GH Research (NASDAQ:GHRS) Trading Up 9.7% - Here's What Happened

GH Research PLC (NASDAQ:GHRS - Get Free Report)'s share price was up 9.7% during trading on Tuesday . The company traded as high as $13.35 and last traded at $13.37. Approximately 410,257 shares were traded during mid-day trading, an increase of 112% from the average daily volume of 193,214 shares. The stock had previously closed at $12.19.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GHRS shares. Cantor Fitzgerald initiated coverage on GH Research in a research note on Wednesday, June 4th. They set an "overweight" rating and a $25.00 target price for the company. Wall Street Zen cut shares of GH Research from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Guggenheim dropped their target price on shares of GH Research from $32.00 to $29.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Royal Bank Of Canada assumed coverage on shares of GH Research in a research note on Friday, March 7th. They set an "outperform" rating and a $31.00 target price for the company. Finally, JMP Securities restated a "market outperform" rating and set a $39.00 price target on shares of GH Research in a research report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, GH Research currently has a consensus rating of "Moderate Buy" and an average target price of $32.00.

GH Research Trading Down 0.8%

The business has a fifty day simple moving average of $11.72 and a two-hundred day simple moving average of $10.78. The company has a market cap of $775.74 million, a PE ratio of -18.87 and a beta of 0.96.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GHRS. Cormorant Asset Management LP increased its holdings in shares of GH Research by 238.8% in the first quarter. Cormorant Asset Management LP now owns 2,009,482 shares of the company's stock valued at $22,165,000 after purchasing an additional 1,416,439 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in GH Research in the 1st quarter valued at $5,018,000. RA Capital Management L.P. increased 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 worth $76,599,000 after acquiring an additional 257,959 shares during the last quarter. Troluce Capital Advisors LLC purchased a new position in shares of GH Research during the 1st quarter worth $1,716,000. Finally, Walleye Capital LLC purchased a new position in shares of GH Research during the 1st quarter worth $584,000. 56.90% of the stock is currently owned by institutional investors and hedge funds.

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).