Structure Therapeutics (NASDAQ:GPCR) Shares Gap Up – Here’s Why

Structure Therapeutics Inc. (NASDAQ:GPCR)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $27.18, but opened at $27.94. Structure Therapeutics shares last traded at $27.11, with a volume of 50,303 shares.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GPCR. JMP Securities reiterated a “market outperform” rating and set a $91.00 target price on shares of Structure Therapeutics in a research report on Wednesday, December 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 target price on shares of Structure Therapeutics in a research report on Monday, September 23rd. Stifel Nicolaus began coverage on shares of Structure Therapeutics in a research report on Wednesday. They set a “buy” rating and a $50.00 price target for the company. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Structure Therapeutics in a report on Thursday, December 19th. Finally, Morgan Stanley assumed coverage on Structure Therapeutics in a report on Monday, September 23rd. They set an “overweight” rating and a $118.00 price objective for the company. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $81.29.

Structure Therapeutics Stock Down 7.3 %

The firm’s 50 day moving average is $32.35 and its two-hundred day moving average is $36.63. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -33.86 and a beta of -2.78.

Institutional Trading of Structure Therapeutics

Hedge funds have recently made changes to their positions in the stock. Natixis Advisors LLC grew its holdings in Structure Therapeutics by 29.4% in the 2nd quarter. Natixis Advisors LLC now owns 19,005 shares of the company’s stock worth $746,000 after buying an additional 4,321 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Structure Therapeutics by 66.4% in the second quarter. American Century Companies Inc. now owns 434,982 shares of the company’s stock worth $17,082,000 after purchasing an additional 173,523 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Structure Therapeutics by 6.6% during the second quarter. Federated Hermes Inc. now owns 2,407,206 shares of the company’s stock valued at $94,531,000 after purchasing an additional 150,000 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Structure Therapeutics during the second quarter valued at about $1,402,000. Finally, Seven Eight Capital LP bought a new stake in shares of Structure Therapeutics during the second quarter valued at about $1,348,000. Institutional investors own 91.78% of the company’s stock.

About Structure Therapeutics

Structure Therapeutics Inc, a clinical stage global biopharmaceutical company, develops and delivers novel oral therapeutics to treat a range of chronic diseases with unmet medical needs. The company’s lead product candidate is GSBR-1290, an oral and biased small molecule agonist of glucagon-like-peptide-1 receptor, a validated G-protein-coupled receptors (GPCRs) drug target for type-2 diabetes mellitus and obesity.