GH Research (NASDAQ:GHRS) Shares Down 5.8% - Should You Sell?

Key Points

• GH Research shares fell 5.8% to last trade at $11.70, with a significant drop in trading volume of 47% compared to the average.
• A number of analysts have issued ratings for GH Research, with a consensus rating of "Moderate Buy" and a average target price of $32.00, despite a recent downgrade from Guggenheim.
• GH Research reported a quarterly earnings surprise, posting earnings of ($0.15) per share, which exceeded expectations by $0.07, while analyst predictions expect a loss of $0.80 for the current year.

GH Research PLC (NASDAQ:GHRS - Get Free Report) shares dropped 5.8% on Monday . The company traded as low as $11.32 and last traded at $11.70. Approximately 182,445 shares traded hands during trading, a decline of 47% from the average daily volume of 343,091 shares. The stock had previously closed at $12.41.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GHRS shares. Guggenheim decreased their target price on shares of GH Research from $32.00 to $29.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Wall Street Zen upgraded shares of GH Research from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Cantor Fitzgerald began coverage on shares of GH Research in a research report on Wednesday, June 4th. They set an "overweight" rating and a $25.00 target price for the company. HC Wainwright reiterated a "buy" rating and issued a $40.00 price objective on shares of GH Research in a research report on Friday, May 9th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $39.00 price objective on shares of GH Research in a research report on Tuesday, June 24th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, GH Research currently has an average rating of "Moderate Buy" and a consensus target price of $32.00.

GH Research Trading Down 4.9%

The firm's 50-day moving average is $13.89 and its two-hundred day moving average is $12.08. The stock has a market cap of $613.93 million, a price-to-earnings ratio of -15.95 and a beta of 0.98.

GH Research (NASDAQ:GHRS - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.07. On average, analysts predict that GH Research PLC will post -0.8 earnings per share for the current year.

Institutional Trading of GH Research

Large investors have recently bought and sold shares of the business. RA Capital Management L.P. grew its stake in shares of GH Research by 3.9% in the 1st quarter. RA Capital Management L.P. now owns 6,944,648 shares of the company's stock valued at $76,599,000 after buying an additional 257,959 shares during the period. Lynx1 Capital Management LP grew its stake in shares of GH Research by 15.8% in the 4th quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company's stock valued at $34,013,000 after buying an additional 663,100 shares during the period. Cormorant Asset Management LP grew its stake in shares of GH Research by 238.8% in the 1st quarter. Cormorant Asset Management LP now owns 2,009,482 shares of the company's stock valued at $22,165,000 after buying an additional 1,416,439 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of GH Research in the 1st quarter valued at approximately $8,272,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of GH Research in the 1st quarter valued at approximately $5,018,000. Hedge funds and other institutional investors own 56.90% of the company's stock.

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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