GH Research (NASDAQ:GHRS) Stock Price Down 0.8% – Here’s Why

Shares of GH Research PLC (NASDAQ:GHRS) dropped 0.8% during trading on Wednesday . The stock traded as low as $8.97 and last traded at $9.03. Approximately 17,495 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 79,145 shares. The stock had previously closed at $9.10.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GHRS. JMP Securities reiterated a “market outperform” rating and set a $39.00 price target on shares of GH Research in a research note on Wednesday, September 4th. Canaccord Genuity Group dropped their price target on shares of GH Research from $31.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, November 18th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $40.00 price objective on shares of GH Research in a report on Wednesday, November 20th.

GH Research Stock Up 2.0 %

The company’s fifty day moving average price is $7.98 and its two-hundred day moving average price is $10.23.

GH Research (NASDAQ:GHRS) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.03. On average, research analysts expect that GH Research PLC will post -0.79 earnings per share for the current year.

Institutional Investors Weigh In On GH Research

An institutional investor recently raised its position in GH Research stock. Lynx1 Capital Management LP grew its holdings in GH Research PLC (NASDAQ:GHRS) by 19.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,966,726 shares of the company’s stock after buying an additional 656,163 shares during the quarter. GH Research makes up 16.7% of Lynx1 Capital Management LP’s portfolio, making the stock its 3rd largest position. Lynx1 Capital Management LP owned 7.62% of GH Research worth $46,252,000 as of its most recent SEC filing. 56.90% of the stock is owned by institutional investors and hedge funds.

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).