GH Research (NASDAQ:GHRS) Shares Down 9.2% – Here’s Why

Shares of GH Research PLC (NASDAQ:GHRS) traded down 9.2% during mid-day trading on Tuesday . The company traded as low as $14.56 and last traded at $14.0360. 237,112 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 2,181,730 shares. The stock had previously closed at $15.46.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GHRS. Citigroup reissued a “market outperform” rating on shares of GH Research in a research note on Tuesday. Needham & Company LLC set a $29.00 price objective on GH Research in a report on Tuesday. Cowen restated a “buy” rating on shares of GH Research in a report on Monday. Wolfe Research set a $39.00 target price on GH Research in a research report on Tuesday. Finally, HC Wainwright cut their price target on shares of GH Research from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Monday, November 10th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, GH Research presently has an average rating of “Moderate Buy” and an average price target of $33.11.

GH Research Stock Down 13.4%

The stock has a fifty day moving average of $13.83 and a 200-day moving average of $13.78. The firm has a market capitalization of $809.07 million, a P/E ratio of -21.01 and a beta of 0.98.

GH Research (NASDAQ:GHRS) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.23) earnings per share for the quarter, hitting the consensus estimate of ($0.23). Sell-side analysts predict that GH Research PLC will post -0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On GH Research

Hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. boosted its position in GH Research by 63.6% during the second quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock valued at $75,000 after purchasing an additional 2,400 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of GH Research during the 2nd quarter worth approximately $79,000. Virtus Investment Advisers LLC acquired a new stake in shares of GH Research in the 2nd quarter valued at approximately $89,000. BNP Paribas Financial Markets boosted its holdings in shares of GH Research by 165.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 17,010 shares of the company’s stock valued at $207,000 after buying an additional 10,600 shares during the last quarter. Finally, Palumbo Wealth Management LLC grew its stake in shares of GH Research by 68.2% in the second quarter. Palumbo Wealth Management LLC now owns 21,651 shares of the company’s stock valued at $264,000 after buying an additional 8,782 shares in the last quarter. Institutional investors own 56.90% of the company’s stock.

GH Research Company Profile

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.