GH Research (NASDAQ:GHRS) Shares Up 3.3% – Here’s What Happened

GH Research PLC (NASDAQ:GHRS)’s stock price rose 3.3% during mid-day trading on Monday . The company traded as high as $9.60 and last traded at $9.39. Approximately 30,164 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 79,384 shares. The stock had previously closed at $9.09.

Analysts Set New Price Targets

GHRS has been the subject of several research analyst reports. HC Wainwright reissued a “buy” rating and set a $40.00 price objective on shares of GH Research in a research report on Thursday, September 5th. Canaccord Genuity Group dropped their price objective on shares of GH Research from $31.00 to $28.00 and set a “buy” rating for the company in a research note on Monday. Finally, JMP Securities reiterated a “market outperform” rating and set a $39.00 target price on shares of GH Research in a research report on Wednesday, September 4th.

GH Research Stock Up 6.1 %

The business has a 50-day simple moving average of $7.76 and a two-hundred day simple moving average of $10.36. The stock has a market capitalization of $501.57 million, a P/E ratio of -12.10 and a beta of 0.74.

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

Hedge Funds Weigh In On GH Research

An institutional investor recently raised its position in GH Research stock. RA Capital Management L.P. boosted its holdings in shares of GH Research PLC (NASDAQ:GHRS) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,686,689 shares of the company’s stock after acquiring an additional 85,000 shares during the period. RA Capital Management L.P. owned approximately 12.85% of GH Research worth $44,734,000 as of its most recent filing with the Securities and Exchange Commission. 56.90% of the stock is currently owned by hedge funds and other institutional investors.

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).