GH Research (NASDAQ:GHRS) Stock Price Down 3.6% - What's Next?

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) shares were down 3.6% on Monday . The company traded as low as $13.54 and last traded at $13.24. Approximately 29,441 shares changed hands during trading, a decline of 91% from the average daily volume of 341,438 shares. The stock had previously closed at $13.74.

Wall Street Analysts Forecast Growth

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

GH Research Stock Performance

The business's 50 day moving average price is $13.82 and its 200 day moving average price is $11.95. The firm has a market cap of $706.31 million, a price-to-earnings ratio of -17.17 and a beta of 0.98.

GH Research (NASDAQ:GHRS - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.61) by $0.42. Sell-side analysts anticipate that GH Research PLC will post -0.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new position in shares of GH Research during the 4th quarter worth $44,000. Palumbo Wealth Management LLC purchased a new stake in GH Research in the 1st quarter valued at about $142,000. XTX Topco Ltd purchased a new stake in GH Research in the 1st quarter valued at about $169,000. Two Sigma Investments LP purchased a new stake in GH Research during the fourth quarter worth about $117,000. Finally, Millennium Management LLC purchased a new stake in GH Research during the fourth quarter worth about $145,000. 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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