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

GH Research PLC (NASDAQ:GHRS) shares traded down 10.4% during trading on Friday . The stock traded as low as $12.57 and last traded at $12.55. 272,770 shares changed hands during trading, a decline of 60% from the average session 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 research analyst reports. Canaccord Genuity Group lowered their price target on GH Research from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, November 18th. HC Wainwright reissued a “buy” rating and set a $40.00 price target on shares of GH Research in a report on Monday, January 27th. Finally, Cantor Fitzgerald initiated coverage on GH Research in a report on Thursday, February 13th. They set an “overweight” rating and a $14.00 price target on the stock.

GH Research Price Performance

The company has a market cap of $650.64 million, a PE ratio of -15.83 and a beta of 0.93. The company has a 50-day moving average of $10.06 and a 200 day moving average of $9.17.

Institutional Trading of GH Research

Institutional investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. raised its stake in shares of GH Research by 1.3% during the third quarter. RA Capital Management L.P. now owns 6,686,689 shares of the company’s stock valued at $44,734,000 after acquiring an additional 85,000 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of GH Research by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 72,513 shares of the company’s stock valued at $508,000 after acquiring an additional 3,092 shares in the last quarter. Diadema Partners LP bought a new stake in shares of GH Research during the fourth quarter valued at approximately $711,000. Lynx1 Capital Management LP raised its stake in shares of GH Research by 15.8% during the fourth quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company’s stock valued at $34,013,000 after acquiring an additional 663,100 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of GH Research by 26.8% during 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. Institutional investors 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).