GH Research (NASDAQ:GHRS) Trading Down 3.5% – Here’s What Happened

GH Research PLC (NASDAQ:GHRS) shares traded down 3.5% on Monday . The company traded as low as $10.50 and last traded at $10.62. 120,349 shares were traded during mid-day trading, a decline of 27% from the average session volume of 164,209 shares. The stock had previously closed at $11.00.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GHRS shares. Stifel Nicolaus lifted their target price on shares of GH Research from $18.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and set a $40.00 price objective on shares of GH Research in a research note on Monday, January 27th. Cantor Fitzgerald initiated coverage on GH Research in a research note on Thursday, February 13th. They issued an “overweight” rating and a $14.00 target price on the stock. Guggenheim began coverage on GH Research in a research report on Thursday. They issued a “buy” rating and a $32.00 price target for the company. Finally, Royal Bank of Canada assumed coverage on shares of GH Research in a research report on Friday, March 7th. They set an “outperform” rating and a $31.00 price objective on the stock. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $30.86.

GH Research Trading Down 3.2 %

The company’s 50 day simple moving average is $11.13 and its 200-day simple moving average is $9.17. The firm has a market cap of $553.84 million, a P/E ratio of -13.48 and a beta of 0.94.

GH Research (NASDAQ:GHRS) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. On average, sell-side analysts anticipate that GH Research PLC will post -0.8 earnings per share for the current year.

Hedge Funds Weigh In On GH Research

A number of institutional investors and hedge funds have recently modified their holdings of GHRS. BNP Paribas Financial Markets purchased a new position in GH Research in the fourth quarter worth about $44,000. Two Sigma Investments LP purchased a new position in shares of GH Research in the fourth quarter worth approximately $117,000. Millennium Management LLC bought a new stake in GH Research during the fourth quarter valued at approximately $145,000. AdvisorShares Investments LLC increased its stake in shares of GH Research by 15.4% in the 4th quarter. AdvisorShares Investments LLC now owns 36,011 shares of the company’s stock worth $252,000 after purchasing an additional 4,806 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of GH Research by 26.8% during the 4th quarter. Northern Trust Corp now owns 40,834 shares of the company’s stock valued at $286,000 after buying an additional 8,641 shares in the last quarter. 56.90% of the stock is currently owned by hedge funds and other 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).