GH Research (NASDAQ:GHRS) Shares Down 5.1% – What’s Next?

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

Analyst Upgrades and Downgrades

GHRS has been the topic of a number of research reports. Canaccord Genuity Group decreased their target price on shares of GH Research from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday. JMP Securities reaffirmed a “market outperform” rating and set a $39.00 price target on shares of GH Research in a research report on Wednesday, September 4th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $40.00 price target on shares of GH Research in a research report on Wednesday.

GH Research Stock Performance

The stock has a market cap of $500.01 million, a PE ratio of -11.56 and a beta of 0.74. The company’s 50-day moving average price is $7.90 and its 200 day moving average price is $10.33.

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

Institutional Trading of GH Research

An institutional investor recently raised its position in GH Research stock. RA Capital Management L.P. grew its holdings in GH Research PLC (NASDAQ:GHRS) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,686,689 shares of the company’s stock after acquiring an additional 85,000 shares during the period. RA Capital Management L.P. owned about 12.85% of GH Research worth $44,734,000 as of its most recent filing with the Securities & Exchange Commission. 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).