GH Research (NASDAQ:GHRS) Shares Down 7.6% – Here’s Why

GH Research PLC (NASDAQ:GHRS)’s share price fell 7.6% during mid-day trading on Thursday . The company traded as low as $14.25 and last traded at $13.86. 198,904 shares traded hands during trading, a decline of 74% from the average session volume of 775,802 shares. The stock had previously closed at $15.00.

Analysts Set New Price Targets

A number of brokerages have issued reports on GHRS. HC Wainwright reissued a “buy” rating and set a $40.00 price objective on shares of GH Research in a research report on Monday, January 27th. Canaccord Genuity Group dropped their target price on shares of GH Research from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, November 18th.

GH Research Trading Down 13.7 %

The stock has a market cap of $673.79 million, a P/E ratio of -16.39 and a beta of 0.93. The stock’s fifty day moving average price is $8.84 and its 200 day moving average price is $9.00.

Institutional Trading of GH Research

A hedge fund recently raised its stake in GH Research stock. RA Capital Management L.P. increased its position in GH Research PLC (NASDAQ:GHRS) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,686,689 shares of the company’s stock after purchasing an additional 85,000 shares during the period. RA Capital Management L.P. owned approximately 12.85% of GH Research worth $44,734,000 at the end of the most recent reporting period. 56.90% of the stock is currently owned by institutional investors and hedge funds.

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).