GH Research (NASDAQ:GHRS) Shares Up 0.7% – Still a Buy?

GH Research PLC (NASDAQ:GHRS) shot up 0.7% during mid-day trading on Monday . The company traded as high as $8.38 and last traded at $8.21. 7,879 shares changed hands during trading, a decline of 90% from the average session volume of 79,562 shares. The stock had previously closed at $8.15.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $40.00 price objective on shares of GH Research in a research note on Thursday, September 5th. JMP Securities reissued a “market outperform” rating and issued a $39.00 target price on shares of GH Research in a report on Wednesday, September 4th.

GH Research Stock Performance

The stock has a market cap of $422.47 million, a price-to-earnings ratio of -12.25 and a beta of 0.74. The firm’s 50-day simple moving average is $8.02 and its two-hundred day simple moving average is $10.52.

GH Research (NASDAQ:GHRS) last issued its earnings results on Tuesday, September 3rd. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.03. Equities research analysts expect that GH Research PLC will post -0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On GH Research

An institutional investor recently raised its position in GH Research stock. Lynx1 Capital Management LP raised its stake in GH Research PLC (NASDAQ:GHRS) by 19.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,966,726 shares of the company’s stock after buying an additional 656,163 shares during the quarter. GH Research comprises approximately 16.7% of Lynx1 Capital Management LP’s investment portfolio, making the stock its 3rd biggest holding. Lynx1 Capital Management LP owned 7.62% of GH Research worth $46,252,000 as of its most recent SEC filing. 56.90% of the stock is owned by institutional investors and hedge funds.

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).