GH Research (NASDAQ:GHRS) Stock Price Up 3.3% – Here’s Why

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

Wall Street Analyst Weigh In

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

GH Research Price Performance

The stock has a market capitalization of $501.57 million, a price-to-earnings ratio of -12.10 and a beta of 0.74. The business has a fifty day moving average of $7.76 and a 200-day moving average of $10.36.

GH Research (NASDAQ:GHRS) last announced its earnings results on Tuesday, September 3rd. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.03. As a group, research analysts anticipate that GH Research PLC will post -0.85 EPS for the current year.

Institutional Investors Weigh In On GH Research

An institutional investor recently raised its position in GH Research stock. RA Capital Management L.P. increased its position in shares of GH Research PLC (NASDAQ:GHRS) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F 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 as of its most recent filing with the Securities and Exchange Commission. 56.90% of the stock is currently owned by 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).