GH Research (NASDAQ:GHRS) Stock Price Down 5.9% – Should You Sell?

GH Research PLC (NASDAQ:GHRS)’s stock price dropped 5.9% during trading on Monday . The stock traded as low as $20.20 and last traded at $20.1650. Approximately 177,754 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 313,756 shares. The stock had previously closed at $21.43.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GHRS shares. Citizens Jmp lowered their price objective on GH Research from $42.00 to $39.00 and set a “market outperform” rating for the company in a report on Friday, May 15th. Guggenheim set a $34.00 target price on GH Research and gave the company a “buy” rating in a report on Tuesday, March 10th. HC Wainwright reduced their price objective on GH Research from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GH Research in a research report on Tuesday, April 21st. Finally, Citigroup reiterated an “outperform” rating on shares of GH Research in a research report on Friday, May 15th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.38.

GH Research Stock Down 5.6%

The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -22.00 and a beta of 1.31. The business has a 50-day simple moving average of $19.54 and a two-hundred day simple moving average of $16.50.

GH Research (NASDAQ:GHRS) last released its earnings results on Thursday, May 14th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.04). On average, analysts forecast that GH Research PLC will post -1.46 EPS for the current year.

Institutional Investors Weigh In On GH Research

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC lifted its position in shares of GH Research by 63.4% during the 4th quarter. Barclays PLC now owns 2,118 shares of the company’s stock valued at $27,000 after acquiring an additional 822 shares during the last quarter. North Star Investment Management Corp. acquired a new stake in shares of GH Research during the 1st quarter valued at $31,000. Royal Bank of Canada lifted its position in shares of GH Research by 43.1% during the 1st quarter. Royal Bank of Canada now owns 2,590 shares of the company’s stock valued at $36,000 after acquiring an additional 780 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of GH Research during the 4th quarter valued at $38,000. Finally, Osaic Holdings Inc. lifted its position in shares of GH Research by 63.6% during the 2nd quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock valued at $75,000 after acquiring an additional 2,400 shares during the last quarter. Institutional investors and hedge funds own 56.90% of the company’s stock.

About GH Research

GH Research Holdings Inc is a clinical-stage biotechnology company dedicated to the development of novel treatments for neuropsychiatric disorders through the application of psychedelic-inspired compounds. Headquartered in Dublin, Ireland, the company focuses on harnessing the unique pharmacology of 5-methoxy-N-dimethyltryptamine (5-MeO-DMT) and related molecules to address high unmet medical needs in mental health.

The firm’s lead program, GH001, is an inhaled formulation of 5-MeO-DMT that has completed early-stage clinical trials assessing safety, tolerability and preliminary efficacy in treatment-resistant depression.