GH Research PLC (NASDAQ:GHRS) Sees Large Decline in Short Interest

Key Points

• Short interest fell 15.2% to 2,214,414 shares as of March 31 (about 6.1% of shares sold short), yielding a short‑interest ratio of 12.6 days based on average daily volume.
• Analysts remain largely positive: nine Buy, one Hold and one Sell produce an average "Moderate Buy" consensus and a $40.13 average price target after several firms raised targets.
• Company and stock snapshot: GH Research is a clinical‑stage biotech developing inhaled 5‑MeO‑DMT (GH001); market cap ≈ $1.14B, last traded $18.34 (52‑week range $8.66–$19.51), and it reported EPS of -$0.23 last quarter (beating estimates) with FY EPS expected near -0.8.

GH Research PLC (NASDAQ:GHRS - Get Free Report) saw a significant decrease in short interest in March. As of March 31st, there was short interest totaling 2,214,414 shares, a decrease of 15.2% from the March 15th total of 2,610,111 shares. Currently, 6.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 175,798 shares, the short-interest ratio is currently 12.6 days.

Analyst Ratings Changes

GHRS has been the topic of several research reports. TD Cowen reaffirmed a "buy" rating on shares of GH Research in a report on Monday, January 5th. Citizens Jmp upped their price target on GH Research from $39.00 to $42.00 and gave the company a "market outperform" rating in a report on Friday, March 6th. Needham & Company LLC upped their price target on GH Research from $31.00 to $32.00 and gave the company a "buy" rating in a report on Friday, March 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of GH Research in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada upped their price target on GH Research from $33.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, January 23rd. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $40.13.

GH Research Price Performance

NASDAQ GHRS traded up $0.60 on Friday, hitting $18.34. 138,771 shares of the stock were exchanged, compared to its average volume of 327,853. GH Research has a 52-week low of $8.66 and a 52-week high of $19.51. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -22.92 and a beta of 1.00. The company's 50-day moving average price is $15.16 and its two-hundred day moving average price is $14.56.

GH Research (NASDAQ:GHRS - Get Free Report) last posted its quarterly earnings data on Friday, March 6th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.06. Equities analysts predict that GH Research will post -0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On GH Research

Several institutional investors and hedge funds have recently added to or reduced their stakes in GHRS. JPMorgan Chase & Co. purchased a new position in GH Research during the 2nd quarter worth approximately $79,000. BNP Paribas Financial Markets grew its position in GH Research by 165.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 17,010 shares of the company's stock worth $207,000 after purchasing an additional 10,600 shares in the last quarter. Osaic Holdings Inc. grew its position in GH Research by 63.6% during the 2nd quarter. Osaic Holdings Inc. now owns 6,175 shares of the company's stock worth $75,000 after purchasing an additional 2,400 shares in the last quarter. AdvisorShares Investments LLC grew its position in GH Research by 41.1% during the 3rd quarter. AdvisorShares Investments LLC now owns 53,991 shares of the company's stock worth $772,000 after purchasing an additional 15,735 shares in the last quarter. Finally, CenterBook Partners LP purchased a new position in GH Research during the 3rd quarter worth approximately $2,376,000. 56.90% of the stock is currently owned by hedge funds and other institutional investors.

About GH Research

GH Research Holdings Inc is a clinical-stage biotechnology company dedicated to the development of novel treatments for neuropsychiatric disorders through the application of psychedelic-inspired compounds. Headquartered in Dublin, Ireland, the company focuses on harnessing the unique pharmacology of 5-methoxy-N-dimethyltryptamine (5-MeO-DMT) and related molecules to address high unmet medical needs in mental health.

The firm's lead program, GH001, is an inhaled formulation of 5-MeO-DMT that has completed early-stage clinical trials assessing safety, tolerability and preliminary efficacy in treatment-resistant depression.

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