GH Research (NASDAQ:GHRS) Sees Strong Trading Volume – Here’s Why

GH Research PLC (NASDAQ:GHRS) saw an uptick in trading volume on Thursday . 181,303 shares changed hands during mid-day trading, a decline of 39% from the previous session’s volume of 296,380 shares.The stock last traded at $28.0950 and had previously closed at $27.75.

Analyst Upgrades and Downgrades

GHRS has been the subject of several research reports. Wall Street Zen upgraded shares of GH Research from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GH Research in a research report on Friday, July 17th. New Street Research set a $65.00 target price on shares of GH Research in a research report on Monday, August 10th. HC Wainwright restated a “buy” rating on shares of GH Research in a research note on Monday, August 10th. Finally, Needham & Company LLC lifted their price target on shares of GH Research from $32.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, GH Research currently has a consensus rating of “Moderate Buy” and an average price target of $45.00.

GH Research Stock Down 1.6%

The stock has a market cap of $1.94 billion, a PE ratio of -28.26 and a beta of 1.27. The firm has a 50-day simple moving average of $28.32 and a 200-day simple moving average of $22.84.

GH Research (NASDAQ:GHRS) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.06. On average, research analysts expect that GH Research PLC will post -1.2 earnings per share for the current year.

Hedge Funds Weigh In On GH Research

A number of large investors have recently modified their holdings of GHRS. Avoro Capital Advisors LLC bought a new stake in GH Research during the 4th quarter worth approximately $22,860,000. Troluce Capital Advisors LLC grew its position in shares of GH Research by 165.4% during the 1st quarter. Troluce Capital Advisors LLC now owns 990,472 shares of the company’s stock valued at $13,926,000 after purchasing an additional 617,260 shares in the last quarter. Jefferies Financial Group Inc. grew its position in shares of GH Research by 0.4% during the 4th quarter. Jefferies Financial Group Inc. now owns 712,300 shares of the company’s stock valued at $9,046,000 after purchasing an additional 2,988 shares in the last quarter. Braidwell LP bought a new position in shares of GH Research in the second quarter worth $5,571,000. Finally, CenterBook Partners LP increased its holdings in shares of GH Research by 70.6% in the fourth quarter. CenterBook Partners LP now owns 283,441 shares of the company’s stock worth $3,600,000 after purchasing an additional 117,288 shares during the period. 56.90% of the stock is currently owned by institutional investors.

GH Research Company Profile

GH Research plc is a clinical-stage biopharmaceutical company headquartered in Dublin, Ireland. Founded in 2018, the company focuses on developing novel therapies for psychiatric and neurological disorders, with an emphasis on treatments that may offer rapid effects.

Its lead program, GH001, is an inhaled formulation of mebufotenin, also known as 5-MeO-DMT, being studied for treatment-resistant depression. GH Research is also developing additional formulations and delivery approaches based on mebufotenin, including the GH002 program.