GH Research (NASDAQ:GHRS) Shares Down 0.8% – Should You Sell?

Shares of GH Research PLC (NASDAQ:GHRS) traded down 0.8% on Wednesday . The stock traded as low as $8.97 and last traded at $9.03. 17,495 shares were traded during mid-day trading, a decline of 78% from the average session volume of 79,145 shares. The stock had previously closed at $9.10.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GHRS shares. Canaccord Genuity Group reduced their price objective on GH Research from $31.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, November 18th. JMP Securities reiterated a “market outperform” rating and issued a $39.00 price target on shares of GH Research in a report on Wednesday, September 4th. Finally, HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of GH Research in a research report on Wednesday, November 20th.

GH Research Price Performance

The stock has a 50 day moving average price of $7.98 and a two-hundred day moving average price of $10.23.

GH Research (NASDAQ:GHRS) last released its earnings results on Tuesday, September 3rd. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.03. Sell-side analysts forecast that GH Research PLC will post -0.79 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in GH Research stock. Lynx1 Capital Management LP lifted its position in GH Research PLC (NASDAQ:GHRS) by 19.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,966,726 shares of the company’s stock after buying an additional 656,163 shares during the period. GH Research comprises 16.7% of Lynx1 Capital Management LP’s holdings, making the stock its 3rd largest position. Lynx1 Capital Management LP owned 7.62% of GH Research worth $46,252,000 at the end of the most recent quarter. 56.90% of the stock is 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).