GH Research (NASDAQ:GHRS) Trading Down 6.7% – Should You Sell?

GH Research PLC (NASDAQ:GHRS) dropped 6.7% on Wednesday . The stock traded as low as $6.95 and last traded at $7.00. Approximately 91,514 shares were traded during trading, an increase of 18% from the average daily volume of 77,875 shares. The stock had previously closed at $7.50.

Wall Street Analyst Weigh In

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

GH Research Price Performance

The firm has a market capitalization of $364.20 million, a PE ratio of -8.86 and a beta of 0.78. The business has a 50-day simple moving average of $8.34 and a 200-day simple moving average of $9.36.

Institutional Trading of GH Research

A hedge fund recently raised its stake in GH Research stock. Lynx1 Capital Management LP raised its position in shares of GH Research PLC (NASDAQ:GHRS) by 19.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,966,726 shares of the company’s stock after acquiring an additional 656,163 shares during the period. GH Research makes up about 16.7% of Lynx1 Capital Management LP’s investment portfolio, 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 reporting period. Institutional investors and hedge funds 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).