GH Research (NASDAQ:GHRS) Stock Price Up 4.1% – Here’s Why

GH Research PLC (NASDAQ:GHRS)’s share price shot up 4.1% during mid-day trading on Wednesday . The company traded as high as $12.11 and last traded at $12.18. 41,792 shares traded hands during trading, a decline of 77% from the average session volume of 180,415 shares. The stock had previously closed at $11.70.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wall Street Zen lowered shares of GH Research from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Royal Bank of Canada began coverage on shares of GH Research in a research report on Friday, March 7th. They set an “outperform” rating and a $31.00 price target on the stock. Stifel Nicolaus raised their price target on shares of GH Research from $18.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. HC Wainwright restated a “buy” rating and set a $40.00 price target on shares of GH Research in a research report on Friday, May 9th. Finally, Guggenheim dropped their price target on shares of GH Research from $32.00 to $29.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, GH Research has a consensus rating of “Moderate Buy” and a consensus target price of $30.43.

GH Research Stock Performance

The firm’s 50-day moving average price is $10.32 and its two-hundred day moving average price is $10.13. The firm has a market cap of $612.06 million, a PE ratio of -15.12 and a beta of 0.86.

GH Research (NASDAQ:GHRS) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.42. As a group, sell-side analysts predict that GH Research PLC will post -0.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Cormorant Asset Management LP lifted its holdings in shares of GH Research by 238.8% during the 1st quarter. Cormorant Asset Management LP now owns 2,009,482 shares of the company’s stock worth $22,165,000 after acquiring an additional 1,416,439 shares during the period. Alyeska Investment Group L.P. acquired a new position in GH Research in the first quarter worth $5,018,000. RA Capital Management L.P. boosted its holdings in GH Research by 3.9% in the first quarter. RA Capital Management L.P. now owns 6,944,648 shares of the company’s stock worth $76,599,000 after purchasing an additional 257,959 shares during the period. Troluce Capital Advisors LLC acquired a new position in GH Research in the first quarter worth $1,716,000. Finally, Walleye Capital LLC acquired a new position in shares of GH Research during the first quarter valued at $584,000. 56.90% of the stock is currently owned by hedge funds and other institutional investors.

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).