GH Research (NASDAQ:GHRS) Sees Strong Trading Volume - Here's Why

Key Points

• GH Research PLC's shares experienced a significant increase in trading volume, with approximately 1.2 million shares traded—up 273% from the previous session.
• Analysts have mixed ratings for GH Research, with a consensus of "Moderate Buy" and a price target averaging $32.00 after recent upgrades and downgrades.
• The company's recent earnings report revealed a smaller loss per share than analysts expected, reporting ($0.15), which surpassed the consensus estimate of ($0.22).

GH Research PLC (NASDAQ:GHRS - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 1,199,098 shares traded hands during mid-day trading, an increase of 273% from the previous session's volume of 321,380 shares.The stock last traded at $14.52 and had previously closed at $13.40.

Analysts Set New Price Targets

A number of equities analysts recently commented on GHRS shares. Wall Street Zen raised shares of GH Research from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Cantor Fitzgerald assumed coverage on shares of GH Research in a report on Wednesday, June 4th. They set an "overweight" rating and a $25.00 price target on the stock. JMP Securities reiterated a "market outperform" rating and issued a $39.00 target price on shares of GH Research in a report on Tuesday, June 24th. Finally, Zacks Research downgraded shares of GH Research from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, GH Research presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.00.

GH Research Stock Performance

The firm's 50-day moving average price is $13.58 and its two-hundred day moving average price is $12.30. The firm has a market capitalization of $751.28 million, a price-to-earnings ratio of -19.51 and a beta of 0.97.

GH Research (NASDAQ:GHRS - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.07. As a group, equities research analysts anticipate that GH Research PLC will post -0.8 EPS for the current year.

Hedge Funds Weigh In On GH Research

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GHRS. Osaic Holdings Inc. lifted its holdings in GH Research by 63.6% in the second quarter. Osaic Holdings Inc. now owns 6,175 shares of the company's stock valued at $75,000 after buying an additional 2,400 shares during the period. AdvisorShares Investments LLC increased its stake in GH Research by 15.0% in the second quarter. AdvisorShares Investments LLC now owns 38,256 shares of the company's stock valued at $466,000 after purchasing an additional 5,000 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in GH Research in the fourth quarter valued at approximately $44,000. JPMorgan Chase & Co. bought a new stake in GH Research in the second quarter valued at approximately $79,000. Finally, Virtus Investment Advisers LLC bought a new stake in GH Research in the second quarter valued at approximately $89,000. 56.90% of the stock is currently owned by institutional investors and hedge funds.

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).

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