GH Research (NASDAQ:GHRS) Shares Down 5.9% - Here's Why

GH Research PLC (NASDAQ:GHRS - Get Free Report) traded down 5.9% during trading on Tuesday . The stock traded as low as $17.85 and last traded at $18.36. 33,385 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 201,944 shares. The stock had previously closed at $19.50.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Cantor Fitzgerald assumed coverage on shares of GH Research in a research report on Wednesday, June 4th. They issued an "overweight" rating and a $25.00 target price for the company. JMP Securities reaffirmed a "market outperform" rating and issued a $39.00 price target on shares of GH Research in a research note on Tuesday, June 24th. Wall Street Zen raised shares of GH Research from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Guggenheim reduced their price target on shares of GH Research from $32.00 to $29.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $40.00 price target on shares of GH Research in a research note 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, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $32.00.

GH Research Stock Down 1.4%

The firm has a market capitalization of $730.76 million, a price-to-earnings ratio of -17.78 and a beta of 0.96. The firm's 50 day moving average is $13.40 and its 200 day moving average is $11.62.

GH Research (NASDAQ:GHRS - Get Free Report) last issued 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. On average, sell-side analysts predict that GH Research PLC will post -0.8 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Palumbo Wealth Management LLC increased its stake in shares of GH Research by 68.2% during the 2nd quarter. Palumbo Wealth Management LLC now owns 21,651 shares of the company's stock worth $264,000 after purchasing an additional 8,782 shares during the last quarter. Cormorant Asset Management LP increased its stake in shares of GH Research by 238.8% during the 1st quarter. Cormorant Asset Management LP now owns 2,009,482 shares of the company's stock worth $22,165,000 after purchasing an additional 1,416,439 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of GH Research during the 1st quarter worth $5,018,000. RA Capital Management L.P. increased its stake in shares of GH Research by 3.9% during the 1st quarter. RA Capital Management L.P. now owns 6,944,648 shares of the company's stock worth $76,599,000 after purchasing an additional 257,959 shares during the last quarter. Finally, Troluce Capital Advisors LLC acquired a new position in shares of GH Research during the 1st quarter worth $1,716,000. 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).