GH Research (NASDAQ:GHRS) Shares Down 6.7% – Here’s Why

GH Research PLC (NASDAQ:GHRS)’s share price was down 6.7% during mid-day trading on Wednesday . The stock traded as low as $6.95 and last traded at $7.00. Approximately 91,514 shares changed hands during trading, an increase of 18% from the average daily volume of 77,875 shares. The stock had previously closed at $7.50.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $40.00 price objective on shares of GH Research in a report on Wednesday, November 20th. Canaccord Genuity Group decreased their target price on GH Research from $31.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, November 18th.

GH Research Stock Performance

The company has a market cap of $411.54 million, a PE ratio of -10.01 and a beta of 0.78. The company’s 50-day simple moving average is $8.33 and its 200 day simple moving average is $9.33.

Institutional Investors Weigh In On GH Research

An institutional investor recently raised its position in GH Research stock. RA Capital Management L.P. grew its stake in GH Research PLC (NASDAQ:GHRS) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,686,689 shares of the company’s stock after purchasing an additional 85,000 shares during the period. RA Capital Management L.P. owned approximately 12.85% of GH Research worth $44,734,000 at the end of the most recent reporting period. Institutional investors own 56.90% of the company’s stock.

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).