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

Shares of GH Research PLC (NASDAQ:GHRS) 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 trading hands.

Analyst Ratings Changes

Several equities research analysts recently commented on GHRS shares. 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. HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of GH Research in a research note on Monday, January 27th.

GH Research Price Performance

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

Institutional Inflows and Outflows

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 its most recent 13F filing with the SEC. The fund owned 6,686,689 shares of the company’s stock after purchasing 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 SEC. Hedge funds and other institutional investors own 56.90% of the company’s stock.

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).