Millennium Management LLC Purchases New Shares in GH Research PLC (NASDAQ:GHRS)

Millennium Management LLC acquired a new position in GH Research PLC (NASDAQ:GHRS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 20,761 shares of the company’s stock, valued at approximately $145,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GHRS. Geode Capital Management LLC grew its stake in GH Research by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 72,513 shares of the company’s stock valued at $508,000 after purchasing an additional 3,092 shares during the period. Diadema Partners LP purchased a new position in shares of GH Research in the 4th quarter worth about $711,000. Lynx1 Capital Management LP boosted its holdings in shares of GH Research by 15.8% in the 4th quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company’s stock worth $34,013,000 after buying an additional 663,100 shares during the last quarter. Northern Trust Corp grew its position in GH Research by 26.8% during the fourth quarter. Northern Trust Corp now owns 40,834 shares of the company’s stock valued at $286,000 after buying an additional 8,641 shares during the period. Finally, AdvisorShares Investments LLC increased its holdings in GH Research by 15.4% during the fourth quarter. AdvisorShares Investments LLC now owns 36,011 shares of the company’s stock worth $252,000 after buying an additional 4,806 shares during the last quarter. Hedge funds and other institutional investors own 56.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GHRS. Stifel Nicolaus boosted their target price on shares of GH Research from $18.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Guggenheim lowered their price target on shares of GH Research from $32.00 to $29.00 and set a “buy” rating on the stock in a report on Friday, May 9th. HC Wainwright reissued a “buy” rating and set a $40.00 price objective on shares of GH Research in a report on Friday, May 9th. Cantor Fitzgerald started coverage on GH Research in a research note on Wednesday, June 4th. They issued an “overweight” rating and a $25.00 target price on the stock. Finally, Royal Bank of Canada started coverage on GH Research in a research report on Friday, March 7th. They set an “outperform” rating and a $31.00 price target on the stock. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

GH Research Trading Down 7.0%

Shares of NASDAQ GHRS opened at $12.83 on Friday. The stock has a market cap of $667.52 million, a price-to-earnings ratio of -16.24 and a beta of 0.97. The stock’s 50-day moving average is $10.66 and its 200 day moving average is $10.35. GH Research PLC has a 1-year low of $6.00 and a 1-year high of $20.50.

GH Research (NASDAQ:GHRS) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.61) by $0.42. On average, analysts forecast that GH Research PLC will post -0.8 EPS for the current fiscal year.

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).