GH Research (NASDAQ:GHRS) Shares Gap Down – Time to Sell?

GH Research PLC (NASDAQ:GHRS) shares gapped down prior to trading on Monday . The stock had previously closed at $14.09, but opened at $13.20. GH Research shares last traded at $13.1910, with a volume of 9,539 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GHRS. Canaccord Genuity Group upped their price target on shares of GH Research from $35.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, January 6th. Royal Bank Of Canada upped their target price on GH Research from $33.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, January 23rd. HC Wainwright lifted their target price on GH Research from $35.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Citizens Jmp lifted their price target on shares of GH Research from $39.00 to $42.00 and gave the company a “market outperform” rating in a research report on Friday, March 6th. Finally, Wolfe Research set a $39.00 price target on shares of GH Research in a report on Tuesday, January 6th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.13.

GH Research Stock Down 1.0%

The stock has a market capitalization of $807.93 million, a price-to-earnings ratio of -16.32 and a beta of 1.00. The company has a 50 day simple moving average of $15.35 and a 200-day simple moving average of $14.37.

GH Research (NASDAQ:GHRS) last released its quarterly earnings data on Friday, March 6th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.06. As a group, sell-side analysts anticipate that GH Research PLC will post -0.8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GH Research

Several large investors have recently modified their holdings of GHRS. Stempoint Capital LP purchased a new position in GH Research in the 2nd quarter worth approximately $1,229,000. HighVista Strategies LLC boosted its position in shares of GH Research by 363.0% during the third quarter. HighVista Strategies LLC now owns 241,894 shares of the company’s stock valued at $3,459,000 after purchasing an additional 189,647 shares in the last quarter. CenterBook Partners LP bought a new position in shares of GH Research in the 3rd quarter worth about $2,376,000. Virtus Investment Advisers LLC purchased a new position in shares of GH Research during the second quarter valued at approximately $89,000. Finally, BIT Capital GmbH bought a new stake in GH Research in the fourth quarter worth $635,000. Hedge funds and other institutional investors own 56.90% of the company’s stock.

About GH Research

GH Research Holdings Inc is a clinical-stage biotechnology company dedicated to the development of novel treatments for neuropsychiatric disorders through the application of psychedelic-inspired compounds. Headquartered in Dublin, Ireland, the company focuses on harnessing the unique pharmacology of 5-methoxy-N-dimethyltryptamine (5-MeO-DMT) and related molecules to address high unmet medical needs in mental health.

The firm’s lead program, GH001, is an inhaled formulation of 5-MeO-DMT that has completed early-stage clinical trials assessing safety, tolerability and preliminary efficacy in treatment-resistant depression.