GH Research (NASDAQ:GHRS) Trading Up 8.8% – Here’s Why

GH Research PLC (NASDAQ:GHRS)’s stock price rose 8.8% during mid-day trading on Tuesday . The stock traded as high as $16.61 and last traded at $15.9940. Approximately 119,710 shares traded hands during trading, a decline of 77% from the average daily volume of 520,397 shares. The stock had previously closed at $14.70.

Analysts Set New Price Targets

Several research firms have weighed in on GHRS. Wall Street Zen cut GH Research from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of GH Research in a report on Thursday, January 22nd. TD Cowen reaffirmed a “buy” rating on shares of GH Research in a report on Monday, January 5th. HC Wainwright cut their target price on shares of GH Research from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Monday, November 10th. Finally, Guggenheim reissued a “buy” rating and issued a $29.00 target price on shares of GH Research in a research note on Monday, January 5th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, GH Research presently has an average rating of “Moderate Buy” and an average price target of $34.11.

GH Research Stock Performance

The company has a market cap of $822.04 million, a PE ratio of -21.35 and a beta of 0.99. The business’s 50-day moving average is $14.81 and its 200 day moving average is $13.99.

Hedge Funds Weigh In On GH Research

A number of large investors have recently bought and sold shares of GHRS. Barclays PLC boosted its stake in shares of GH Research by 63.4% during the fourth quarter. Barclays PLC now owns 2,118 shares of the company’s stock valued at $27,000 after purchasing an additional 822 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in GH Research during the 4th quarter valued at $38,000. Osaic Holdings Inc. raised its holdings in GH Research by 63.6% during the 2nd quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock valued at $75,000 after buying an additional 2,400 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in GH Research during the 2nd quarter valued at $79,000. Finally, Virtus Investment Advisers LLC bought a new stake in GH Research in the 2nd quarter worth $89,000. 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.