GH Research (NASDAQ:GHRS) Sees Unusually-High Trading Volume – Time to Buy?

GH Research PLC (NASDAQ:GHRS) shares saw unusually-high trading volume on Wednesday . Approximately 304,799 shares changed hands during mid-day trading, an increase of 92% from the previous session’s volume of 158,809 shares.The stock last traded at $9.85 and had previously closed at $9.39.

Analysts Set New Price Targets

GHRS has been the subject of a number of analyst reports. Cantor Fitzgerald initiated coverage on GH Research in a report on Thursday, February 13th. They issued an “overweight” rating and a $14.00 price target for the company. Royal Bank of Canada initiated coverage on GH Research in a research note on Friday. They set an “outperform” rating and a $31.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of GH Research in a report on Monday, January 27th. Canaccord Genuity Group reduced their price objective 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. Finally, Stifel Nicolaus raised their price objective on shares of GH Research from $18.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $30.67.

GH Research Stock Down 0.5 %

The firm’s 50 day simple moving average is $10.73 and its two-hundred day simple moving average is $9.20. The stock has a market cap of $546.29 million, a P/E ratio of -13.29 and a beta of 0.94.

GH Research (NASDAQ:GHRS) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.06. As a group, equities analysts predict that GH Research PLC will post -0.8 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RA Capital Management L.P. increased its position in GH Research by 1.3% in the third quarter. RA Capital Management L.P. now owns 6,686,689 shares of the company’s stock worth $44,734,000 after buying an additional 85,000 shares during the period. Geode Capital Management LLC increased its holdings in shares of GH Research by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 72,513 shares of the company’s stock worth $508,000 after acquiring an additional 3,092 shares during the period. Diadema Partners LP acquired a new stake in shares of GH Research in the 4th quarter worth about $711,000. Lynx1 Capital Management LP lifted its position in GH Research by 15.8% in the 4th quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company’s stock valued at $34,013,000 after purchasing an additional 663,100 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in GH Research by 26.8% during the 4th quarter. Northern Trust Corp now owns 40,834 shares of the company’s stock valued at $286,000 after purchasing an additional 8,641 shares during the period. 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).