GH Research (NASDAQ:GHRS) Stock Price Down 10.4% – Here’s Why

GH Research PLC (NASDAQ:GHRS)’s stock price was down 10.4% during trading on Friday . The company traded as low as $12.57 and last traded at $12.55. Approximately 272,770 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 683,757 shares. The stock had previously closed at $14.00.

Wall Street Analyst Weigh In

GHRS has been the topic of several analyst reports. Canaccord Genuity Group cut their price target on shares of GH Research from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, November 18th. Cantor Fitzgerald initiated coverage on shares of GH Research in a report on Thursday, February 13th. They set an “overweight” rating and a $14.00 price objective on the stock. Finally, 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.

GH Research Stock Down 10.7 %

The business’s 50-day simple moving average is $10.06 and its two-hundred day simple moving average is $9.17. The firm has a market cap of $650.64 million, a price-to-earnings ratio of -15.83 and a beta of 0.93.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GHRS. Lynx1 Capital Management LP raised its position in shares of GH Research by 15.8% in the fourth quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company’s stock worth $34,013,000 after acquiring an additional 663,100 shares during the period. Diadema Partners LP acquired a new position in shares of GH Research in the fourth quarter worth about $711,000. RA Capital Management L.P. raised its position in shares of GH Research by 1.3% during the 3rd quarter. RA Capital Management L.P. now owns 6,686,689 shares of the company’s stock worth $44,734,000 after purchasing an additional 85,000 shares during the last quarter. Woodline Partners LP raised its position in shares of GH Research by 112.0% during the 4th quarter. Woodline Partners LP now owns 78,949 shares of the company’s stock worth $553,000 after purchasing an additional 41,711 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in shares of GH Research during the 4th quarter worth about $145,000. Institutional investors and hedge funds own 56.90% of the company’s stock.

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).