GH Research (NASDAQ:GHRS) Trading Down 10.4% – Time to Sell?

GH Research PLC (NASDAQ:GHRS) traded down 10.4% during trading on Friday . The stock traded as low as $12.57 and last traded at $12.55. 272,770 shares were traded during mid-day trading, a decline of 60% from the average session volume of 683,757 shares. The stock had previously closed at $14.00.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Cantor Fitzgerald assumed coverage on GH Research in a research note on Thursday, February 13th. They issued an “overweight” rating and a $14.00 price target for the company. Canaccord Genuity Group decreased their target price on 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 target price on shares of GH Research in a research report on Monday, January 27th.

GH Research Stock Down 10.7 %

The stock has a market cap of $650.64 million, a P/E ratio of -15.83 and a beta of 0.93. The business has a 50-day simple moving average of $10.16 and a 200-day simple moving average of $9.16.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GHRS. RA Capital Management L.P. lifted its holdings in shares of GH Research by 1.3% during the third quarter. RA Capital Management L.P. now owns 6,686,689 shares of the company’s stock worth $44,734,000 after buying an additional 85,000 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of GH Research by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 72,513 shares of the company’s stock worth $508,000 after buying an additional 3,092 shares during the last quarter. Diadema Partners LP acquired a new position in shares of GH Research during the fourth quarter worth approximately $711,000. Lynx1 Capital Management LP raised its stake in shares of GH Research by 15.8% in the fourth quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company’s stock valued at $34,013,000 after purchasing an additional 663,100 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of GH Research by 26.8% in the fourth quarter. Northern Trust Corp now owns 40,834 shares of the company’s stock valued at $286,000 after purchasing an additional 8,641 shares in the last quarter. 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).