GH Research (NASDAQ:GHRS) Shares Up 2% – Should You Buy?

Shares of GH Research PLC (NASDAQ:GHRS) traded up 2% on Wednesday . The stock traded as high as $9.80 and last traded at $9.80. 1,026 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 79,340 shares. The stock had previously closed at $9.61.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GHRS. Canaccord Genuity Group dropped their target price 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. JMP Securities reaffirmed a “market outperform” rating and set a $39.00 price objective on shares of GH Research in a report on Wednesday, September 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $40.00 target price on shares of GH Research in a research note on Wednesday.

GH Research Stock Performance

The stock has a 50-day moving average of $7.82 and a two-hundred day moving average of $10.33. The company has a market cap of $541.09 million, a P/E ratio of -12.41 and a beta of 0.74.

GH Research (NASDAQ:GHRS) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.03. As a group, sell-side analysts forecast that GH Research PLC will post -0.85 EPS for the current fiscal year.

Institutional Trading of GH Research

An institutional investor recently raised its position in GH Research stock. Lynx1 Capital Management LP boosted its stake in shares of GH Research PLC (NASDAQ:GHRS) by 80.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,310,563 shares of the company’s stock after acquiring an additional 1,471,946 shares during the quarter. GH Research accounts for about 9.1% of Lynx1 Capital Management LP’s investment portfolio, making the stock its 6th largest holding. Lynx1 Capital Management LP owned approximately 6.36% of GH Research worth $35,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other 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).