GH Research (NASDAQ:GHRS) Stock Price Down 3.5% – Time to Sell?

GH Research PLC (NASDAQ:GHRS) shares were down 3.5% during mid-day trading on Monday . The company traded as low as $10.50 and last traded at $10.62. Approximately 120,349 shares changed hands 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.

Analyst Ratings Changes

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

GH Research Stock Performance

The business has a 50 day moving average price of $11.19 and a two-hundred day moving average price of $9.16. The company has a market cap of $558.05 million, a P/E ratio of -13.58 and a beta of 0.94.

GH Research (NASDAQ:GHRS) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.06. As a group, research analysts expect that GH Research PLC will post -0.8 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GHRS. Lynx1 Capital Management LP raised its position in GH Research by 15.8% during the 4th quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company’s stock valued at $34,013,000 after purchasing an additional 663,100 shares during the last quarter. Diadema Partners LP bought a new position in GH Research during the 4th quarter valued at approximately $711,000. RA Capital Management L.P. raised its position in shares of GH Research by 1.3% in the 3rd quarter. RA Capital Management L.P. now owns 6,686,689 shares of the company’s stock worth $44,734,000 after acquiring an additional 85,000 shares in the last quarter. Woodline Partners LP raised its position in shares of GH Research by 112.0% in the 4th quarter. Woodline Partners LP now owns 78,949 shares of the company’s stock worth $553,000 after acquiring an additional 41,711 shares in the last quarter. Finally, Millennium Management LLC bought a new position in shares of GH Research in the 4th quarter worth approximately $145,000. Institutional investors own 56.90% of the company’s stock.

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).