GH Research (NASDAQ:GHRS) Trading Down 1% – Here’s What Happened

GH Research PLC (NASDAQ:GHRS) traded down 1% on Thursday . The stock traded as low as $7.93 and last traded at $8.25. 38,773 shares were traded during mid-day trading, a decline of 51% from the average session volume of 79,565 shares. The stock had previously closed at $8.33.

Wall Street Analyst Weigh In

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

GH Research Stock Performance

The firm has a 50 day moving average of $8.02 and a 200-day moving average of $10.53. The stock has a market capitalization of $424.04 million, a PE ratio of -12.16 and a beta of 0.79.

GH Research (NASDAQ:GHRS) last posted its quarterly 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. On average, sell-side analysts predict that GH Research PLC will post -0.85 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in GH Research stock. Lynx1 Capital Management LP increased its position in shares of GH Research PLC (NASDAQ:GHRS) by 19.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,966,726 shares of the company’s stock after purchasing an additional 656,163 shares during the period. GH Research comprises about 16.7% of Lynx1 Capital Management LP’s investment portfolio, making the stock its 3rd largest position. Lynx1 Capital Management LP owned about 7.62% of GH Research worth $46,252,000 at the end of the most recent reporting period. 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).