Structure Therapeutics (NASDAQ:GPCR) Shares Gap Up – Should You Buy?

Structure Therapeutics Inc. (NASDAQ:GPCR)’s stock price gapped up prior to trading 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 trading hands.

Analyst Ratings Changes

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

Structure Therapeutics Trading Down 7.3 %

The firm has a 50 day moving average of $32.35 and a two-hundred day moving average of $36.63. The stock has a market capitalization of $1.43 billion, a PE ratio of -33.86 and a beta of -2.78.

Hedge Funds Weigh In On Structure Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GPCR. GAMMA Investing LLC increased its stake in shares of Structure Therapeutics by 4,155.6% during the 4th quarter. GAMMA Investing LLC now owns 1,149 shares of the company’s stock worth $31,000 after purchasing an additional 1,122 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Structure Therapeutics by 302.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,936 shares of the company’s stock valued at $1,489,000 after buying an additional 25,500 shares during the last quarter. Principal Financial Group Inc. increased its position in Structure Therapeutics by 230.0% during the third quarter. Principal Financial Group Inc. now owns 545,359 shares of the company’s stock worth $23,936,000 after buying an additional 380,115 shares in the last quarter. Exome Asset Management LLC acquired a new position in shares of Structure Therapeutics in the third quarter worth $5,274,000. Finally, Franklin Resources Inc. lifted its position in shares of Structure Therapeutics by 9.4% in the third quarter. Franklin Resources Inc. now owns 706,106 shares of the company’s stock valued at $30,991,000 after acquiring an additional 60,397 shares in the last quarter. Institutional investors and hedge funds 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.