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

Shares of Structure Therapeutics Inc. (NASDAQ:GPCR) gapped up before the market opened on Wednesday . The stock had previously closed at $20.53, but opened at $22.26. Structure Therapeutics shares last traded at $22.29, with a volume of 147,225 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $80.00 price objective on shares of Structure Therapeutics in a research note on Thursday, December 19th. William Blair initiated coverage on shares of Structure Therapeutics in a research report on Friday, February 28th. They set an “outperform” rating on the stock. JMP Securities reissued a “market outperform” rating and issued a $91.00 price target on shares of Structure Therapeutics in a report on Wednesday, December 18th. Finally, Stifel Nicolaus began coverage on shares of Structure Therapeutics in a report on Wednesday, January 8th. They set a “buy” rating and a $50.00 price objective on the stock. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $81.29.

Structure Therapeutics Stock Performance

The company has a 50-day moving average of $25.45 and a 200 day moving average of $32.57. The firm has a market cap of $1.17 billion, a P/E ratio of -27.57 and a beta of -2.35.

Structure Therapeutics (NASDAQ:GPCR) last posted its earnings results on Thursday, February 27th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.01. Sell-side analysts anticipate that Structure Therapeutics Inc. will post -0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Structure Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of GPCR. Geode Capital Management LLC grew its holdings in shares of Structure Therapeutics by 0.7% during the third quarter. Geode Capital Management LLC now owns 45,225 shares of the company’s stock worth $1,985,000 after purchasing an additional 312 shares during the last quarter. Virtus ETF Advisers LLC grew its holdings in Structure Therapeutics by 25.5% during the 4th quarter. Virtus ETF Advisers LLC now owns 2,242 shares of the company’s stock worth $61,000 after acquiring an additional 455 shares during the last quarter. ANTIPODES PARTNERS Ltd increased its position in Structure Therapeutics by 115.0% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,034 shares of the company’s stock valued at $28,000 after acquiring an additional 553 shares in the last quarter. LPL Financial LLC lifted its position in shares of Structure Therapeutics by 6.0% during the fourth quarter. LPL Financial LLC now owns 11,485 shares of the company’s stock worth $311,000 after purchasing an additional 646 shares in the last quarter. Finally, Assetmark Inc. grew 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 during the last quarter. 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.