GH Research (NASDAQ:GHRS) Shares Down 3.5% – Time to Sell?

GH Research PLC (NASDAQ:GHRS)’s share price fell 3.5% during trading on Monday . The stock traded as low as $10.50 and last traded at $10.62. 120,349 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 164,209 shares. The stock had previously closed at $11.00.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GHRS. Guggenheim initiated coverage on GH Research in a research note on Thursday. They set a “buy” rating and a $32.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of GH Research in a research note on Monday, January 27th. Stifel Nicolaus lifted their target price on GH Research from $18.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Royal Bank of Canada started coverage on shares of GH Research in a research note on Friday, March 7th. They set an “outperform” rating and a $31.00 price target on the stock. Finally, Canaccord Genuity Group cut their target price on GH Research from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, November 18th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $30.86.

GH Research Stock Performance

The stock has a fifty day moving average of $11.13 and a 200-day moving average of $9.17. The company has a market cap of $553.84 million, a PE ratio of -13.48 and a beta of 0.94.

GH Research (NASDAQ:GHRS) last released its earnings results 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 anticipate that GH Research PLC will post -0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On GH Research

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new position in GH Research in the fourth quarter worth approximately $44,000. Two Sigma Investments LP purchased a new stake in shares of GH Research in the 4th quarter worth $117,000. Millennium Management LLC bought a new position in shares of GH Research during the 4th quarter worth $145,000. AdvisorShares Investments LLC increased its stake in shares of GH Research by 15.4% during the fourth quarter. AdvisorShares Investments LLC now owns 36,011 shares of the company’s stock valued at $252,000 after buying an additional 4,806 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of GH Research by 26.8% in the fourth quarter. Northern Trust Corp now owns 40,834 shares of the company’s stock valued at $286,000 after acquiring an additional 8,641 shares in the last quarter. 56.90% of the stock is currently owned by 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).