GH Research (NASDAQ:GHRS) Shares Gap Up – Should You Buy?

GH Research PLC (NASDAQ:GHRS)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $17.99, but opened at $19.19. GH Research shares last traded at $16.65, with a volume of 157,728 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GHRS. HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of GH Research in a report on Monday, January 27th. Canaccord Genuity Group cut their target price 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.

GH Research Price Performance

The company has a 50 day simple moving average of $8.84 and a 200-day simple moving average of $9.00.

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 holdings in GH Research PLC (NASDAQ:GHRS) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,686,689 shares of the company’s stock after purchasing an additional 85,000 shares during the period. RA Capital Management L.P. owned approximately 12.85% of GH Research worth $44,734,000 at the end of the most recent reporting period. 56.90% of the stock is currently owned by institutional investors.

About GH Research

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).