GH Research (NASDAQ:GHRS) Stock Price Up 1.4% – Here’s Why

GH Research PLC (NASDAQ:GHRS)’s stock price was up 1.4% during mid-day trading on Monday . The company traded as high as $9.72 and last traded at $9.40. Approximately 10,151 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 79,479 shares. The stock had previously closed at $9.27.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GHRS shares. Canaccord Genuity Group lowered their target price on GH Research from $31.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, November 18th. JMP Securities reaffirmed a “market outperform” rating and set a $39.00 price objective on shares of GH Research in a report on Wednesday, September 4th. Finally, HC Wainwright reiterated a “buy” rating and set a $40.00 target price on shares of GH Research in a research report on Wednesday, November 20th.

GH Research Stock Performance

The business has a 50 day moving average of $7.91 and a 200-day moving average of $10.29. The company has a market capitalization of $473.99 million, a P/E ratio of -11.71 and a beta of 0.74.

GH Research (NASDAQ:GHRS) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.03. As a group, equities analysts forecast that GH Research PLC will post -0.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in GH Research stock. RA Capital Management L.P. boosted its holdings in shares of GH Research PLC (NASDAQ:GHRS) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,686,689 shares of the company’s stock after buying an additional 85,000 shares during the period. RA Capital Management L.P. owned approximately 12.85% of GH Research worth $44,734,000 as of its most recent SEC filing. 56.90% of the stock is currently owned by hedge funds and other institutional investors.

GH Research Company Profile

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).