GH Research (NASDAQ:GHRS) Shares Up 5.7% – Here’s What Happened

GH Research PLC (NASDAQ:GHRS)’s stock price shot up 5.7% during mid-day trading on Tuesday. The stock traded as high as $24.90 and last traded at $24.75. 899,364 shares traded hands during trading, an increase of 200% from the average session volume of 299,756 shares. The stock had previously closed at $23.42.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GHRS shares. Needham & Company LLC boosted their price target on GH Research from $32.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. New Street Research set a $65.00 price objective on shares of GH Research in a report on Monday, August 10th. Wall Street Zen raised shares of GH Research from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Zacks Research raised shares of GH Research from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, Cantor Fitzgerald lifted their price target on shares of GH Research from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, GH Research currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

GH Research Trading Up 0.2%

The stock has a market capitalization of $1.61 billion, a P/E ratio of -23.62 and a beta of 1.27. The business has a 50-day moving average price of $27.93 and a 200 day moving average price of $23.43.

GH Research (NASDAQ:GHRS) last posted its earnings results on Thursday, August 6th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.06. On average, sell-side analysts predict that GH Research PLC will post -1.2 earnings per share for the current fiscal year.

Institutional Trading of GH Research

A number of large investors have recently made changes to their positions in GHRS. Avoro Capital Advisors LLC bought a new position in shares of GH Research in the 4th quarter valued at about $22,860,000. Troluce Capital Advisors LLC increased its stake in GH Research by 165.4% during the first quarter. Troluce Capital Advisors LLC now owns 990,472 shares of the company’s stock worth $13,926,000 after acquiring an additional 617,260 shares during the last quarter. CenterBook Partners LP increased its stake in GH Research by 70.6% during the fourth quarter. CenterBook Partners LP now owns 283,441 shares of the company’s stock worth $3,600,000 after acquiring an additional 117,288 shares during the last quarter. Braidwell LP purchased a new stake in GH Research during the second quarter valued at approximately $5,571,000. Finally, BIT Capital GmbH purchased a new stake in GH Research during the fourth quarter valued at approximately $635,000. 56.90% of the stock is currently owned by institutional investors.

GH Research Company Profile

GH Research plc is a clinical-stage biopharmaceutical company headquartered in Dublin, Ireland. Founded in 2018, the company focuses on developing novel therapies for psychiatric and neurological disorders, with an emphasis on treatments that may offer rapid effects.

Its lead program, GH001, is an inhaled formulation of mebufotenin, also known as 5-MeO-DMT, being studied for treatment-resistant depression. GH Research is also developing additional formulations and delivery approaches based on mebufotenin, including the GH002 program.