GH Research (NASDAQ:GHRS) Stock Price Down 9.2% – Should You Sell?
by Teresa Graham · The Cerbat GemGH Research PLC (NASDAQ:GHRS – Get Free Report) traded down 9.2% on Tuesday . The stock traded as low as $14.56 and last traded at $14.0360. 237,112 shares were traded during trading, a decline of 89% from the average session volume of 2,181,730 shares. The stock had previously closed at $15.46.
Analysts Set New Price Targets
GHRS has been the subject of a number of research analyst reports. Needham & Company LLC set a $29.00 price objective on shares of GH Research in a research note on Tuesday. Cowen reaffirmed a “buy” rating on shares of GH Research in a research note on Monday. Wolfe Research set a $39.00 price objective on shares of GH Research in a research note on Tuesday. Citigroup restated a “market outperform” rating on shares of GH Research in a report on Tuesday. Finally, Canaccord Genuity Group lifted their target price on GH Research from $35.00 to $39.00 and gave the company a “buy” rating in a report on Tuesday. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $33.11.
View Our Latest Report on GHRS
GH Research Price Performance
The company has a market cap of $706.05 million, a PE ratio of -18.32 and a beta of 0.98. The company has a 50-day moving average price of $13.75 and a two-hundred day moving average price of $13.74.
GH Research (NASDAQ:GHRS – Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.23) EPS for the quarter, hitting the consensus estimate of ($0.23). On average, equities research analysts anticipate that GH Research PLC will post -0.8 earnings per share for the current year.
Hedge Funds Weigh In On GH Research
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GHRS. Osaic Holdings Inc. increased its position in shares of GH Research by 63.6% during the second quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock worth $75,000 after acquiring an additional 2,400 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in GH Research during the 2nd quarter worth approximately $79,000. Virtus Investment Advisers LLC acquired a new position in shares of GH Research in the 2nd quarter valued at approximately $89,000. BNP Paribas Financial Markets raised its position in shares of GH Research by 165.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 17,010 shares of the company’s stock valued at $207,000 after purchasing an additional 10,600 shares in the last quarter. Finally, Palumbo Wealth Management LLC grew its position in shares of GH Research by 68.2% during the second quarter. Palumbo Wealth Management LLC now owns 21,651 shares of the company’s stock worth $264,000 after buying an additional 8,782 shares in the last quarter. 56.90% of the stock is owned by hedge funds and other institutional investors.
GH Research Company Profile
GH Research Holdings Inc is a clinical-stage biotechnology company dedicated to the development of novel treatments for neuropsychiatric disorders through the application of psychedelic-inspired compounds. Headquartered in Dublin, Ireland, the company focuses on harnessing the unique pharmacology of 5-methoxy-N-dimethyltryptamine (5-MeO-DMT) and related molecules to address high unmet medical needs in mental health.
The firm’s lead program, GH001, is an inhaled formulation of 5-MeO-DMT that has completed early-stage clinical trials assessing safety, tolerability and preliminary efficacy in treatment-resistant depression.