GH Research (NASDAQ:GHRS) Sees Unusually-High Trading Volume – Here’s Why

GH Research PLC (NASDAQ:GHRS) shares saw unusually-strong trading volume on Wednesday . Approximately 304,799 shares traded hands during mid-day trading, an increase of 92% from the previous session’s volume of 158,809 shares.The stock last traded at $9.85 and had previously closed at $9.39.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GHRS. Stifel Nicolaus upped their price objective on GH Research from $18.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and set a $40.00 price target on shares of GH Research in a research report on Monday, January 27th. Canaccord Genuity Group lowered their price objective on shares of GH Research from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, November 18th. Finally, Cantor Fitzgerald began coverage on shares of GH Research in a research report on Thursday, February 13th. They issued an “overweight” rating and a $14.00 price objective on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, GH Research currently has an average rating of “Buy” and an average price target of $30.60.

GH Research Price Performance

The firm has a 50-day moving average of $10.60 and a 200 day moving average of $9.18. The stock has a market capitalization of $534.85 million, a price-to-earnings ratio of -13.08 and a beta of 0.93.

GH Research (NASDAQ:GHRS) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.06. On average, equities analysts forecast that GH Research PLC will post -0.8 earnings per share for the current year.

Institutional Trading of GH Research

A number of large investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. increased its stake in shares of GH Research by 1.3% during the 3rd quarter. RA Capital Management L.P. now owns 6,686,689 shares of the company’s stock worth $44,734,000 after purchasing an additional 85,000 shares during the last quarter. Millennium Management LLC bought a new position in GH Research during the fourth quarter worth about $145,000. Two Sigma Investments LP acquired a new position in GH Research during the fourth quarter worth approximately $117,000. BNP Paribas Financial Markets bought a new stake in GH Research in the fourth quarter valued at approximately $44,000. Finally, Northern Trust Corp lifted its position in shares of GH Research by 26.8% in the fourth quarter. Northern Trust Corp now owns 40,834 shares of the company’s stock valued at $286,000 after buying an additional 8,641 shares during the last quarter. Institutional investors and hedge funds 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).