GH Research (NASDAQ:GHRS) Trading Down 3.5% - Here's Why

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

Wall Street Analysts Forecast Growth

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

GH Research Stock Up 0.8 %

The company has a 50-day simple moving average of $11.19 and a two-hundred day simple moving average of $9.16. The stock has a market cap of $555.66 million, a P/E ratio of -13.47 and a beta of 0.94.

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GH Research (NASDAQ:GHRS - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.06. As a group, sell-side analysts forecast that GH Research PLC will post -0.8 earnings per share for the current fiscal year.

Institutional Trading of GH Research

Several institutional investors have recently bought and sold shares of the company. RA Capital Management L.P. increased its position in shares of GH Research by 1.3% during the third quarter. RA Capital Management L.P. now owns 6,686,689 shares of the company's stock valued at $44,734,000 after acquiring an additional 85,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of GH Research by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 72,513 shares of the company's stock valued at $508,000 after purchasing an additional 3,092 shares during the last quarter. Diadema Partners LP bought a new position in GH Research during the fourth quarter valued at approximately $711,000. Lynx1 Capital Management LP boosted its holdings in GH Research by 15.8% in the fourth quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company's stock worth $34,013,000 after purchasing an additional 663,100 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings 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 during the period. 56.90% of the stock is 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).