GH Research (NASDAQ:GHRS) Posts Earnings Results, Beats Expectations By $0.06 EPS

GH Research (NASDAQ:GHRS) released its quarterly earnings results on Thursday. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.06, Zacks reports.

GH Research Trading Down 1.2%

GH Research stock traded down $0.37 during trading on Friday, hitting $30.27. The company had a trading volume of 337,156 shares, compared to its average volume of 318,768. GH Research has a 1-year low of $11.32 and a 1-year high of $31.44. The company’s 50 day simple moving average is $25.70 and its 200-day simple moving average is $20.16. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of -30.27 and a beta of 1.29.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GHRS. XTX Topco Ltd purchased a new position in shares of GH Research during the fourth quarter worth $564,000. Virtus Investment Advisers LLC raised its holdings in shares of GH Research by 130.1% in the 4th quarter. Virtus Investment Advisers LLC now owns 20,408 shares of the company’s stock valued at $259,000 after buying an additional 11,539 shares during the period. Squadron Capital Management LLC acquired a new position in GH Research during the 4th quarter worth about $4,000,000. RTW Investments LP lifted its stake in GH Research by 6.5% during the 4th quarter. RTW Investments LP now owns 5,933,815 shares of the company’s stock worth $75,359,000 after acquiring an additional 364,251 shares in the last quarter. Finally, Boothbay Fund Management LLC boosted its holdings in GH Research by 34.3% during the 4th quarter. Boothbay Fund Management LLC now owns 112,184 shares of the company’s stock valued at $1,425,000 after acquiring an additional 28,634 shares during the period. 56.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Guggenheim increased their price objective on GH Research from $34.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of GH Research in a research report on Friday, July 17th. Zacks Research lowered GH Research from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 15th. Citigroup reiterated an “outperform” rating on shares of GH Research in a report on Friday, May 15th. Finally, HC Wainwright cut their price objective 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. Ten analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $42.78.

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.