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

GH Research PLC (NASDAQ:GHRS)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $17.99, but opened at $19.19. GH Research shares last traded at $16.65, with a volume of 157,728 shares traded.

Wall Street Analyst Weigh In

GHRS has been the topic of several research reports. HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of GH Research in a research report on Monday, January 27th. Canaccord Genuity Group cut their price target on GH Research from $31.00 to $28.00 and set a “buy” rating for the company in a report on Monday, November 18th.

GH Research Stock Down 14.1 %

The company has a market cap of $804.12 million, a price-to-earnings ratio of -19.63 and a beta of 0.93. The stock has a 50 day simple moving average of $8.58 and a 200 day simple moving average of $8.92.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in GH Research stock. RA Capital Management L.P. lifted its position in shares of GH Research PLC (NASDAQ:GHRS) by 1.3% during the 3rd quarter, according to the company in its most recent filing 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 about 12.85% of GH Research worth $44,734,000 at the end of the most recent reporting period. 56.90% of the stock is 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).