GH Research (NASDAQ:GHRS) Trading Down 5.9% – Time to Sell?

GH Research PLC (NASDAQ:GHRS)’s stock price was down 5.9% during mid-day trading on Monday . The stock traded as low as $20.20 and last traded at $20.1650. Approximately 177,754 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 313,756 shares. The stock had previously closed at $21.43.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Citigroup reaffirmed an “outperform” rating on shares of GH Research in a report on Friday, May 15th. HC Wainwright dropped their target price on GH Research from $70.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GH Research in a research note on Tuesday, April 21st. Needham & Company LLC upped their price target on GH Research from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Finally, Guggenheim set a $34.00 price objective on GH Research and gave the stock a “buy” rating in a research note on Tuesday, March 10th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.38.

GH Research Stock Performance

The company’s 50-day moving average is $19.80 and its 200-day moving average is $16.58. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -21.94 and a beta of 1.31.

GH Research (NASDAQ:GHRS) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.04). On average, analysts predict that GH Research PLC will post -1.46 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GHRS. Lynx1 Capital Management LP lifted its holdings in GH Research by 27.5% during the 3rd quarter. Lynx1 Capital Management LP now owns 8,601,189 shares of the company’s stock worth $122,997,000 after buying an additional 1,854,238 shares in the last quarter. RTW Investments LP raised its position in shares of GH Research by 6.5% during the fourth quarter. RTW Investments LP now owns 5,933,815 shares of the company’s stock worth $75,359,000 after acquiring an additional 364,251 shares during the last quarter. Avoro Capital Advisors LLC bought a new stake in shares of GH Research during the fourth quarter worth $22,860,000. Troluce Capital Advisors LLC lifted its stake in shares of GH Research by 165.4% during the first quarter. Troluce Capital Advisors LLC now owns 990,472 shares of the company’s stock valued at $13,926,000 after acquiring an additional 617,260 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of GH Research by 324.1% during the third quarter. Millennium Management LLC now owns 863,602 shares of the company’s stock valued at $12,350,000 after acquiring an additional 659,957 shares during the period. Institutional investors own 56.90% of the company’s stock.

GH Research Company Profile

GH Research Holdings Inc is a clinical-stage biotechnology company dedicated to the development of novel treatments for neuropsychiatric disorders through the application of psychedelic-inspired compounds. Headquartered in Dublin, Ireland, the company focuses on harnessing the unique pharmacology of 5-methoxy-N-dimethyltryptamine (5-MeO-DMT) and related molecules to address high unmet medical needs in mental health.

The firm’s lead program, GH001, is an inhaled formulation of 5-MeO-DMT that has completed early-stage clinical trials assessing safety, tolerability and preliminary efficacy in treatment-resistant depression.