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

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

Analysts Set New Price Targets

GHRS has been the subject of several recent research reports. HC Wainwright decreased 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 note on Monday, November 10th. Wall Street Zen downgraded GH Research from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Guggenheim reiterated a “buy” rating and issued a $29.00 price objective on shares of GH Research in a research report on Monday, January 5th. TD Cowen restated a “buy” rating on shares of GH Research in a research report on Monday, January 5th. Finally, Citigroup restated a “market outperform” rating on shares of GH Research in a research note on Tuesday, January 6th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, GH Research has an average rating of “Moderate Buy” and a consensus target price of $34.11.

GH Research Trading Up 8.8%

The firm has a 50 day moving average of $14.74 and a two-hundred day moving average of $13.96. The stock has a market capitalization of $831.96 million, a PE ratio of -21.61 and a beta of 0.99.

Institutional Investors Weigh In On GH Research

A number of large investors have recently added to or reduced their stakes in GHRS. Lynx1 Capital Management LP increased its stake in shares of GH Research by 27.5% during the 3rd quarter. Lynx1 Capital Management LP now owns 8,601,189 shares of the company’s stock worth $122,997,000 after purchasing an additional 1,854,238 shares in the last quarter. Avoro Capital Advisors LLC acquired a new stake in GH Research during the 4th quarter valued at $22,860,000. Millennium Management LLC increased 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. HighVista Strategies LLC raised its holdings in shares of GH Research by 363.0% in the third quarter. HighVista Strategies LLC now owns 241,894 shares of the company’s stock worth $3,459,000 after acquiring an additional 189,647 shares during the last quarter. Finally, CenterBook Partners LP purchased a new stake in shares of GH Research in the third quarter valued at $2,376,000. 56.90% of the stock is owned by institutional investors and hedge funds.

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.