Structure Therapeutics (NASDAQ:GPCR) Shares Gap Up – What’s Next?

Shares of Structure Therapeutics Inc. (NASDAQ:GPCR) gapped up before the market opened on Friday . The stock had previously closed at $31.24, but opened at $32.55. Structure Therapeutics shares last traded at $32.64, with a volume of 90,481 shares.

Wall Street Analyst Weigh In

GPCR has been the subject of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price target on shares of Structure Therapeutics in a research report on Monday, September 23rd. HC Wainwright started coverage on shares of Structure Therapeutics in a report on Wednesday. They issued a “buy” rating and a $80.00 price objective for the company. Morgan Stanley initiated coverage on Structure Therapeutics in a report on Monday, September 23rd. They issued an “overweight” rating and a $118.00 price target on the stock. Finally, JMP Securities dropped their price target on Structure Therapeutics from $91.00 to $86.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Structure Therapeutics has an average rating of “Buy” and a consensus target price of $85.67.

Structure Therapeutics Price Performance

The stock’s fifty day moving average is $37.46 and its 200-day moving average is $39.32. The stock has a market capitalization of $1.88 billion, a P/E ratio of -44.50 and a beta of -3.41.

Institutional Investors Weigh In On Structure Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sandia Investment Management LP bought a new position in Structure Therapeutics in the 2nd quarter worth approximately $39,000. Assetmark Inc. boosted its stake in Structure Therapeutics by 120.0% during the third quarter. Assetmark Inc. now owns 1,318 shares of the company’s stock worth $58,000 after buying an additional 719 shares in the last quarter. Quarry LP bought a new position in shares of Structure Therapeutics in the second quarter valued at approximately $79,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Structure Therapeutics by 60.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company’s stock worth $158,000 after acquiring an additional 1,420 shares in the last quarter. Finally, Dearborn Partners LLC bought a new stake in Structure Therapeutics during the 3rd quarter worth approximately $202,000. 91.78% of the stock is owned by institutional investors and hedge funds.

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.