GH Research (NASDAQ:GHRS) Stock Price Down 7.5% – Here’s What Happened

GH Research PLC (NASDAQ:GHRS)’s stock price was down 7.5% on Tuesday . The company traded as low as $15.81 and last traded at $15.7240. Approximately 289,606 shares changed hands during trading, a decline of 71% from the average daily volume of 1,002,681 shares. The stock had previously closed at $16.99.

Wall Street Analyst Weigh In

A number of brokerages have commented on GHRS. Weiss Ratings restated a “sell (d-)” rating on shares of GH Research in a research note on Wednesday, October 8th. HC Wainwright reduced their price objective on shares of GH Research from $40.00 to $35.00 and set a “buy” rating for the company in a report on Monday, November 10th. Canaccord Genuity Group boosted their target price on shares of GH Research from $35.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, January 6th. Wall Street Zen cut shares of GH Research from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Wolfe Research set a $39.00 price target on GH Research in a research note on Tuesday, January 6th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.11.

GH Research Price Performance

The firm’s fifty day moving average is $14.26 and its two-hundred day moving average is $13.97. The firm has a market capitalization of $819.47 million, a PE ratio of -21.28 and a beta of 0.98.

GH Research (NASDAQ:GHRS) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.23) EPS for the quarter, meeting the consensus estimate of ($0.23). As a group, equities research analysts predict that GH Research PLC will post -0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On GH Research

A number of hedge funds have recently made changes to their positions in the business. Lynx1 Capital Management LP boosted its holdings in shares of GH Research by 27.5% in the 3rd quarter. Lynx1 Capital Management LP now owns 8,601,189 shares of the company’s stock worth $122,997,000 after buying an additional 1,854,238 shares during the last quarter. Millennium Management LLC boosted its stake in GH Research by 324.1% in the third quarter. Millennium Management LLC now owns 863,602 shares of the company’s stock valued at $12,350,000 after acquiring an additional 659,957 shares during the last quarter. Verition Fund Management LLC boosted its stake in GH Research by 3.2% in the third quarter. Verition Fund Management LLC now owns 678,489 shares of the company’s stock valued at $9,702,000 after acquiring an additional 21,108 shares during the last quarter. UBS Group AG grew its position in shares of GH Research by 11.5% during the 3rd quarter. UBS Group AG now owns 511,464 shares of the company’s stock valued at $7,314,000 after acquiring an additional 52,882 shares during the period. Finally, HighVista Strategies LLC increased its stake in shares of GH Research by 363.0% during the 3rd quarter. HighVista Strategies LLC now owns 241,894 shares of the company’s stock worth $3,459,000 after purchasing an additional 189,647 shares during the last quarter. 56.90% of the stock is currently owned by institutional investors.

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.