GH Research (NASDAQ:GHRS) Shares Down 4% – Time to Sell?

GH Research PLC (NASDAQ:GHRS) traded down 4% during trading on Thursday . The stock traded as low as $11.91 and last traded at $12.07. 58,063 shares were traded during trading, a decline of 68% from the average session volume of 181,362 shares. The stock had previously closed at $12.57.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating and issued a $40.00 price target on shares of GH Research in a research note on Friday, May 9th. Royal Bank of Canada began coverage on shares of GH Research in a research note on Friday, March 7th. They issued an “outperform” rating and a $31.00 price objective for the company. Wall Street Zen lowered shares of GH Research from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Stifel Nicolaus boosted their target price on shares of GH Research from $18.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Cantor Fitzgerald upgraded shares of GH Research to a “strong-buy” rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.43.

GH Research Stock Down 0.8%

The company has a 50 day moving average price of $10.31 and a 200-day moving average price of $10.15. The company has a market cap of $623.30 million, a price-to-earnings ratio of -15.16 and a beta of 0.86.

GH Research (NASDAQ:GHRS) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.61) by $0.42. On average, analysts forecast that GH Research PLC will post -0.8 EPS for the current fiscal year.

Institutional Trading of GH Research

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets bought a new position in shares of GH Research during the fourth quarter worth about $44,000. Two Sigma Investments LP bought a new position in GH Research during the 4th quarter worth approximately $117,000. Palumbo Wealth Management LLC bought a new position in GH Research during the 1st quarter worth approximately $142,000. Millennium Management LLC acquired a new position in shares of GH Research in the 4th quarter worth approximately $145,000. Finally, XTX Topco Ltd bought a new stake in shares of GH Research in the 1st quarter valued at $169,000. 56.90% of the stock is currently owned by institutional investors and hedge funds.

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).