GH Research (NASDAQ:GHRS) Stock Price Down 5.9% – Should You Sell?

GH Research PLC (NASDAQ:GHRS)’s share price dropped 5.9% on Monday . The company traded as low as $20.20 and last traded at $20.1650. Approximately 177,754 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 313,756 shares. The stock had previously closed at $21.43.

Wall Street Analyst Weigh In

GHRS has been the topic of a number of research analyst reports. Citizens Jmp reduced their target price on GH Research from $42.00 to $39.00 and set a “market outperform” rating on the stock in a report on Friday, May 15th. Citigroup reiterated an “outperform” rating on shares of GH Research in a report on Friday, May 15th. Needham & Company LLC lifted their target price on GH Research from $31.00 to $32.00 and gave the company a “buy” rating in a report on Friday, March 6th. Weiss Ratings restated a “sell (d-)” rating on shares of GH Research in a research note on Tuesday, April 21st. Finally, HC Wainwright reduced their price objective on GH Research from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.38.

GH Research Stock Down 5.6%

The stock has a 50 day simple moving average of $19.54 and a 200 day simple moving average of $16.50. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -22.00 and a beta of 1.31.

GH Research (NASDAQ:GHRS) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.04). As a group, equities research analysts expect that GH Research PLC will post -1.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GHRS. Barclays PLC lifted its stake in shares of GH Research by 63.4% in the fourth quarter. Barclays PLC now owns 2,118 shares of the company’s stock worth $27,000 after acquiring an additional 822 shares in the last quarter. North Star Investment Management Corp. acquired a new position in shares of GH Research in the first quarter worth about $31,000. Royal Bank of Canada lifted its stake in shares of GH Research by 43.1% in the first quarter. Royal Bank of Canada now owns 2,590 shares of the company’s stock worth $36,000 after acquiring an additional 780 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of GH Research in the fourth quarter worth about $38,000. Finally, Osaic Holdings Inc. lifted its stake in shares of GH Research by 63.6% in the second quarter. Osaic Holdings Inc. now owns 6,175 shares of the company’s stock worth $75,000 after acquiring an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 56.90% of the company’s stock.

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.