GH Research (NASDAQ:GHRS) Shares Down 5.1% – Here’s Why

Shares of GH Research PLC (NASDAQ:GHRS) fell 5.1% during mid-day trading on Friday . The company traded as low as $9.05 and last traded at $9.13. 22,824 shares were traded during trading, a decline of 71% from the average session volume of 79,611 shares. The stock had previously closed at $9.62.

Analyst Ratings Changes

GHRS has been the subject of a number of recent analyst reports. JMP Securities restated a “market outperform” rating and issued a $39.00 price objective on shares of GH Research in a research report on Wednesday, September 4th. Canaccord Genuity Group reduced their price objective on shares of GH Research from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Finally, HC Wainwright reiterated a “buy” rating and issued a $40.00 target price on shares of GH Research in a research report on Wednesday.

GH Research Stock Down 3.6 %

The company has a 50-day moving average of $7.91 and a 200 day moving average of $10.30. The stock has a market capitalization of $482.32 million, a PE ratio of -11.73 and a beta of 0.74.

GH Research (NASDAQ:GHRS) last issued its earnings results on Tuesday, September 3rd. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. As a group, equities analysts predict that GH Research PLC will post -0.78 EPS for the current fiscal year.

Institutional Investors Weigh In On GH Research

A hedge fund recently raised its stake in GH Research stock. RA Capital Management L.P. boosted its stake in shares of GH Research PLC (NASDAQ:GHRS) by 11.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,251,714 shares of the company’s stock after buying an additional 664,381 shares during the period. RA Capital Management L.P. owned 12.02% of GH Research worth $66,643,000 at the end of the most recent quarter. 56.90% of the stock is currently owned by hedge funds and other institutional investors.

GH Research Company Profile

GH Research PLC, together with its subsidiary GH Research Ireland Limited, engages in developing various therapies to treat psychiatric and neurological disorders. It is involved in the development of 5-Methoxy-N,N-Dimethyltryptamine (5-MeO-DMT) therapies for the treatment of patients with treatment-resistant depression (TRD).