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

Structure Therapeutics Inc. (NASDAQ:GPCR) shares gapped up prior to trading on Friday . The stock had previously closed at $29.97, but opened at $30.79. Structure Therapeutics shares last traded at $30.08, with a volume of 75,354 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GPCR shares. Morgan Stanley initiated coverage on shares of Structure Therapeutics in a research note on Monday, September 23rd. They issued an “overweight” rating and a $118.00 price objective for the company. JMP Securities reissued a “market outperform” rating and issued a $91.00 price objective on shares of Structure Therapeutics in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 target price on shares of Structure Therapeutics in a research note on Monday, September 23rd. Finally, HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Structure Therapeutics in a report on Thursday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $86.50.

Structure Therapeutics Price Performance

The firm has a market capitalization of $1.66 billion, a PE ratio of -39.09 and a beta of -3.41. The business’s 50 day moving average is $35.53 and its two-hundred day moving average is $39.03.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in Structure Therapeutics by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 45,225 shares of the company’s stock worth $1,985,000 after buying an additional 312 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of Structure Therapeutics by 4.5% in the 2nd quarter. Squarepoint Ops LLC now owns 14,449 shares of the company’s stock worth $567,000 after buying an additional 617 shares during the period. Assetmark Inc. increased its stake in shares of Structure Therapeutics by 120.0% during the third quarter. Assetmark Inc. now owns 1,318 shares of the company’s stock valued at $58,000 after purchasing an additional 719 shares in the last quarter. Sandia Investment Management LP purchased a new position in shares of Structure Therapeutics during the second quarter valued at approximately $39,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Structure Therapeutics by 60.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company’s stock valued at $158,000 after buying an additional 1,420 shares during the last quarter. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

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.