GH Research (NASDAQ:GHRS) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• GH Research shares experienced unusually high trading volume, with 421,336 shares changing hands—39% above the prior session—and traded around $29.09.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $40.78. Recent targets range from $35 to $65, despite some downward revisions.
• The clinical-stage biotechnology company missed its latest quarterly EPS estimate, reporting a loss of $0.31 per share versus the expected $0.27 loss. Institutional investors own 56.9% of the stock, while GH Research continues developing psychedelic-inspired treatments for neuropsychiatric disorders.

Shares of GH Research PLC (NASDAQ:GHRS - Get Free Report) saw unusually-strong trading volume on Tuesday . 421,336 shares were traded during mid-day trading, an increase of 39% from the previous session's volume of 304,080 shares.The stock last traded at $29.0890 and had previously closed at $28.19.

Analysts Set New Price Targets

GHRS has been the topic of a number of recent research reports. Citizens Jmp cut their price target on shares of GH Research from $42.00 to $39.00 and set a "market outperform" rating on the stock in a report on Friday, May 15th. Citigroup reaffirmed an "outperform" rating on shares of GH Research in a report on Friday, May 15th. Wells Fargo & Company assumed coverage on GH Research in a research note on Monday, July 27th. They issued an "overweight" rating and a $44.00 price target for the company. HC Wainwright cut their price objective on GH Research from $70.00 to $65.00 and set a "buy" rating on the stock in a research note on Tuesday, May 19th. Finally, Cantor Fitzgerald increased their target price on shares of GH Research from $25.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, May 15th. Ten analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $40.78.

GH Research Price Performance

The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -31.78 and a beta of 1.29. The business's fifty day simple moving average is $25.15 and its 200 day simple moving average is $19.82.

GH Research (NASDAQ:GHRS - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.04). Equities research analysts expect that GH Research PLC will post -1.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GH Research

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in GH Research by 43.1% during the 1st quarter. Royal Bank of Canada now owns 2,590 shares of the company's stock valued at $36,000 after purchasing an additional 780 shares during the last quarter. Troluce Capital Advisors LLC grew its holdings in GH Research by 165.4% during the first quarter. Troluce Capital Advisors LLC now owns 990,472 shares of the company's stock worth $13,926,000 after buying an additional 617,260 shares in the last quarter. Renaissance Technologies LLC bought a new position in GH Research during the 1st quarter valued at $290,000. North Star Investment Management Corp. purchased a new position in GH Research during the 1st quarter worth $31,000. Finally, Avoro Capital Advisors LLC bought a new stake in shares of GH Research in the 4th quarter worth $22,860,000. Institutional investors and hedge funds 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.

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