GH Research (NASDAQ:GHRS) Shares Down 7.6% – What’s Next?

Shares of GH Research PLC (NASDAQ:GHRS) dropped 7.6% during trading on Thursday . The stock traded as low as $14.25 and last traded at $13.86. Approximately 198,904 shares traded hands during trading, a decline of 74% from the average daily volume of 775,802 shares. The stock had previously closed at $15.00.

Analyst Ratings Changes

GHRS has been the topic of several research reports. HC Wainwright reissued a “buy” rating and set a $40.00 price target on shares of GH Research in a research note on Monday, January 27th. Canaccord Genuity Group decreased their price target on shares of GH Research from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, November 18th.

GH Research Price Performance

The firm’s 50 day simple moving average is $8.84 and its 200 day simple moving average is $9.00. The stock has a market capitalization of $673.79 million, a PE ratio of -16.39 and a beta of 0.93.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in GH Research stock. RA Capital Management L.P. increased its position in GH Research PLC (NASDAQ:GHRS) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,686,689 shares of the company’s stock after buying an additional 85,000 shares during the quarter. RA Capital Management L.P. owned 12.85% of GH Research worth $44,734,000 as of its most recent filing with the Securities & Exchange Commission. 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).