GH Research (NASDAQ:GHRS) Sees Large Volume Increase – Still a Buy?

Shares of GH Research PLC (NASDAQ:GHRS) saw unusually-strong trading volume on Tuesday . 421,336 shares traded hands during trading, an increase of 39% from the previous session’s volume of 304,080 shares.The stock last traded at $29.0890 and had previously closed at $28.19.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. HC Wainwright decreased their target price on GH Research from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Tuesday, May 19th. Zacks Research downgraded shares of GH Research from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GH Research in a research note on Friday, July 17th. Cantor Fitzgerald increased their target price on shares of GH Research from $25.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Finally, Wells Fargo & Company began coverage on GH Research in a report on Monday, July 27th. They set an “overweight” rating and a $44.00 price objective for the company. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.78.

GH Research Stock Up 1.0%

The firm has a 50-day simple moving average of $25.41 and a 200-day simple moving average of $20.00. The stock has a market cap of $2.02 billion, a PE ratio of -31.92 and a beta of 1.29.

GH Research (NASDAQ:GHRS) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.07. On average, research analysts expect that GH Research PLC will post -1.46 earnings per share for the current year.

Institutional Investors Weigh In On GH Research

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lynx1 Capital Management LP grew its stake in GH Research by 27.5% during the third quarter. Lynx1 Capital Management LP now owns 8,601,189 shares of the company’s stock valued at $122,997,000 after acquiring an additional 1,854,238 shares in the last quarter. RTW Investments LP increased its holdings in shares of GH Research by 6.5% in the fourth quarter. RTW Investments LP now owns 5,933,815 shares of the company’s stock worth $75,359,000 after purchasing an additional 364,251 shares during the period. Avoro Capital Advisors LLC purchased a new stake in shares of GH Research in the fourth quarter worth $22,860,000. Troluce Capital Advisors LLC boosted its stake in GH Research by 165.4% during the first quarter. Troluce Capital Advisors LLC now owns 990,472 shares of the company’s stock valued at $13,926,000 after buying an additional 617,260 shares during the period. Finally, Millennium Management LLC grew its position in GH Research by 324.1% during the third quarter. Millennium Management LLC now owns 863,602 shares of the company’s stock worth $12,350,000 after buying an additional 659,957 shares in the last quarter. 56.90% of the stock is currently owned by institutional investors.

About GH Research

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.