GH Research (NASDAQ:GHRS) Stock Price Down 3.6% - Should You Sell?

Key Points

• GH Research's stock (NASDAQ:GHRS) fell by 3.6% to last trade at $13.24, with a notable decline in trading volume, dropping to 29,441 shares compared to an average of 341,438 shares.
• Analysts hold a consensus rating of "Moderate Buy" for GH Research with a target price of $32.00, with several firms recently providing ratings ranging from "buy" to "hold."
• GH Research reported earnings per share of ($0.19) for the last quarter, surpassing analyst expectations, and institutional investors now own 56.90% of the company’s stock.

GH Research PLC (NASDAQ:GHRS - Get Free Report)'s stock price traded down 3.6% during mid-day trading on Monday . The stock traded as low as $13.54 and last traded at $13.24. 29,441 shares were traded during trading, a decline of 91% from the average session volume of 341,438 shares. The stock had previously closed at $13.74.

Wall Street Analysts Forecast Growth

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

GH Research Trading Up 1.0%

The stock has a market capitalization of $635.78 million, a price-to-earnings ratio of -15.47 and a beta of 0.98. The company has a fifty day moving average of $13.88 and a two-hundred day moving average of $12.01.

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

Hedge Funds Weigh In On GH Research

Several large investors have recently made changes to their positions in the business. Cormorant Asset Management LP grew its holdings in 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 last quarter. Jefferies Financial Group Inc. acquired a new stake in GH Research in the 1st quarter worth $8,272,000. Lynx1 Capital Management LP raised its position in shares of GH Research by 15.8% during the fourth 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 last quarter. Alyeska Investment Group L.P. bought a new stake in shares of GH Research in the first quarter valued at about $5,018,000. Finally, RA Capital Management L.P. increased its stake in GH Research by 3.9% during the first quarter. RA Capital Management L.P. now owns 6,944,648 shares of the company's stock valued at $76,599,000 after acquiring an additional 257,959 shares during the period. Institutional investors and hedge funds 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).