GH Research (NASDAQ:GHRS) Trading Up 2.2% – Here’s What Happened

GH Research PLC (NASDAQ:GHRS) shares were up 2.2% during trading on Friday . The stock traded as high as $8.76 and last traded at $8.28. Approximately 36,299 shares were traded during trading, a decline of 54% from the average daily volume of 79,613 shares. The stock had previously closed at $8.10.

Analysts Set New Price Targets

Several research analysts have recently commented on GHRS shares. HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of GH Research in a report on Thursday, September 5th. JMP Securities reaffirmed a “market outperform” rating and set a $39.00 target price on shares of GH Research in a report on Wednesday, September 4th.

GH Research Stock Up 8.3 %

The business’s 50 day moving average is $8.09 and its 200-day moving average is $10.55. The firm has a market capitalization of $456.30 million, a P/E ratio of -12.36 and a beta of 0.79.

GH Research (NASDAQ:GHRS) last posted its earnings results on Tuesday, September 3rd. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.03. Research analysts forecast that GH Research PLC will post -0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On GH Research

A hedge fund recently raised its stake in GH Research stock. Lynx1 Capital Management LP lifted its holdings in shares of GH Research PLC (NASDAQ:GHRS) by 19.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,966,726 shares of the company’s stock after acquiring an additional 656,163 shares during the period. GH Research makes up 16.7% of Lynx1 Capital Management LP’s holdings, making the stock its 3rd biggest holding. Lynx1 Capital Management LP owned 7.62% of GH Research worth $46,252,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 56.90% of the company’s stock.

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).