GH Research (NASDAQ:GHRS) Shares Down 4.6% - Should You Sell?

GH Research PLC (NASDAQ:GHRS - Get Free Report) dropped 4.6% during mid-day trading on Tuesday . The company traded as low as $12.92 and last traded at $13.07. Approximately 65,298 shares traded hands during trading, a decline of 65% from the average daily volume of 184,651 shares. The stock had previously closed at $13.70.

Analysts Set New Price Targets

GHRS has been the subject of a number of recent research reports. Cantor Fitzgerald initiated coverage on shares of GH Research in a research note on Wednesday, June 4th. They issued an "overweight" rating and a $25.00 price objective for the company. Guggenheim reduced their price target on GH Research from $32.00 to $29.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Royal Bank of Canada initiated coverage on GH Research in a research note on Friday, March 7th. They set an "outperform" rating and a $31.00 price objective for the company. HC Wainwright restated a "buy" rating and issued a $40.00 price target on shares of GH Research in a report on Friday, May 9th. Finally, Wall Street Zen cut GH Research from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $32.00.

GH Research Trading Down 0.5%

The firm has a market cap of $663.88 million, a price-to-earnings ratio of -16.15 and a beta of 0.97. The company has a fifty day moving average price of $10.66 and a 200-day moving average price of $10.35.

GH Research (NASDAQ:GHRS - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.61) by $0.42. As a group, research analysts forecast that GH Research PLC will post -0.8 earnings per share for the current fiscal year.

Institutional Trading of GH Research

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new position in shares of GH Research during the 4th quarter worth approximately $44,000. Two Sigma Investments LP acquired a new stake in shares of GH Research during the fourth quarter worth about $117,000. Palumbo Wealth Management LLC purchased a new position in shares of GH Research in the first quarter valued at approximately $142,000. Millennium Management LLC acquired a new position in shares of GH Research in the fourth quarter valued at approximately $145,000. Finally, XTX Topco Ltd acquired a new stake in GH Research during the 1st quarter worth approximately $169,000. Hedge funds and other institutional investors own 56.90% of the company's stock.

GH Research Company Profile

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).