Structure Therapeutics (NASDAQ:GPCR) Trading Up 6.2% – Here’s What Happened

Structure Therapeutics Inc. (NASDAQ:GPCR) traded up 6.2% on Friday . The company traded as high as $24.84 and last traded at $24.84. 320,756 shares were traded during mid-day trading, a decline of 58% from the average session volume of 772,438 shares. The stock had previously closed at $23.39.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Structure Therapeutics in a research note on Thursday, December 19th. Stifel Nicolaus assumed coverage on shares of Structure Therapeutics in a research note on Wednesday, January 8th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, JMP Securities reissued a “market outperform” rating and issued a $91.00 target price on shares of Structure Therapeutics in a research note on Wednesday, December 18th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $81.29.

Structure Therapeutics Stock Up 1.3 %

The stock’s 50-day moving average price is $27.37 and its 200-day moving average price is $34.02. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -32.02 and a beta of -2.75.

Hedge Funds Weigh In On Structure Therapeutics

Large investors have recently modified their holdings of the stock. Spire Wealth Management acquired a new position in shares of Structure Therapeutics during the fourth quarter worth approximately $243,000. JPMorgan Chase & Co. lifted its holdings in Structure Therapeutics by 302.3% in the third 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 period. Vestal Point Capital LP lifted its holdings in Structure Therapeutics by 105.4% in the third quarter. Vestal Point Capital LP now owns 1,150,000 shares of the company’s stock valued at $50,474,000 after buying an additional 590,000 shares during the period. abrdn plc lifted its holdings in Structure Therapeutics by 132.7% in the third quarter. abrdn plc now owns 217,083 shares of the company’s stock valued at $9,528,000 after buying an additional 123,789 shares during the period. Finally, Barclays PLC lifted its holdings in Structure Therapeutics by 64.5% in the third quarter. Barclays PLC now owns 81,138 shares of the company’s stock valued at $3,562,000 after buying an additional 31,815 shares during the period. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Structure Therapeutics Company Profile

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.