GH Research (NASDAQ:GHRS) Shares Up 2% – What’s Next?

Shares of GH Research PLC (NASDAQ:GHRS) were up 2% on Wednesday . The stock traded as high as $9.80 and last traded at $9.80. Approximately 1,026 shares were traded during trading, a decline of 99% from the average daily volume of 79,340 shares. The stock had previously closed at $9.61.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Canaccord Genuity Group cut their price target on shares of GH Research from $31.00 to $28.00 and set a “buy” rating for the company in a report on Monday. JMP Securities restated a “market outperform” rating and set a $39.00 target price on shares of GH Research in a report on Wednesday, September 4th. Finally, HC Wainwright reissued a “buy” rating and set a $40.00 price objective on shares of GH Research in a research note on Wednesday.

GH Research Price Performance

The firm’s fifty day simple moving average is $7.90 and its 200 day simple moving average is $10.33. The company has a market capitalization of $500.53 million, a price-to-earnings ratio of -12.18 and a beta of 0.74.

GH Research (NASDAQ:GHRS) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.03. Equities research analysts forecast that GH Research PLC will post -0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GH Research

A hedge fund recently raised its stake in GH Research stock. Lynx1 Capital Management LP boosted its stake in GH Research PLC (NASDAQ:GHRS) by 19.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,966,726 shares of the company’s stock after buying an additional 656,163 shares during the quarter. GH Research makes up about 16.7% of Lynx1 Capital Management LP’s holdings, making the stock its 3rd biggest position. Lynx1 Capital Management LP owned approximately 7.62% of GH Research worth $46,252,000 as of its most recent filing with the Securities & Exchange Commission. 56.90% of the stock is currently owned by institutional investors and hedge funds.

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).