GH Research (NASDAQ:GHRS) Trading 1.2% Higher – Time to Buy?

GH Research PLC (NASDAQ:GHRS) was up 1.2% during trading on Tuesday . The stock traded as high as $9.59 and last traded at $9.58. Approximately 2,276 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 79,618 shares. The stock had previously closed at $9.47.

Analyst Ratings Changes

GHRS has been the topic of several analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $40.00 price target on shares of GH Research in a report on Thursday, September 5th. JMP Securities reiterated a “market outperform” rating and issued a $39.00 price target on shares of GH Research in a research note on Wednesday, September 4th. Finally, Canaccord Genuity Group lowered their price objective on GH Research from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday.

GH Research Price Performance

The stock has a market cap of $490.64 million, a P/E ratio of -12.13 and a beta of 0.74. The stock’s 50-day moving average is $7.78 and its two-hundred day moving average is $10.34.

GH Research (NASDAQ:GHRS) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.03. On average, analysts anticipate that GH Research PLC will post -0.85 EPS for the current fiscal year.

Institutional Trading of GH Research

An institutional investor recently raised its position in GH Research stock. Lynx1 Capital Management LP lifted its position in GH Research PLC (NASDAQ:GHRS) by 80.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,310,563 shares of the company’s stock after purchasing an additional 1,471,946 shares during the period. GH Research accounts for about 9.1% of Lynx1 Capital Management LP’s investment portfolio, making the stock its 6th biggest position. Lynx1 Capital Management LP owned approximately 6.36% of GH Research worth $35,291,000 at the end of the most recent reporting period. 56.90% of the stock is currently owned by institutional investors and hedge funds.

About GH Research

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).