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

Structure Therapeutics Inc. (NASDAQ:GPCR)’s share price 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.

Analysts Set New Price Targets

A number of research analysts have issued reports on GPCR shares. JMP Securities reissued a “market outperform” rating and set a $91.00 price objective on shares of Structure Therapeutics in a report on Wednesday, December 18th. Stifel Nicolaus assumed coverage on Structure Therapeutics in a report on Wednesday, January 8th. They set a “buy” rating and a $50.00 price target for the company. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Structure Therapeutics in a research note on Thursday, December 19th. Finally, William Blair started coverage on Structure Therapeutics in a research note on Friday, February 28th. They issued an “outperform” rating for the company. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $81.29.

Structure Therapeutics Stock Performance

The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -29.84 and a beta of -2.35. The business’s 50-day simple moving average is $25.72 and its 200-day simple moving average is $32.74.

Structure Therapeutics (NASDAQ:GPCR) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.01. On average, analysts forecast that Structure Therapeutics Inc. will post -0.82 earnings per share for the current year.

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 the stock. ANTIPODES PARTNERS Ltd raised its position in shares of 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 during the period. GAMMA Investing LLC raised its holdings in Structure Therapeutics by 4,155.6% in the fourth quarter. GAMMA Investing LLC now owns 1,149 shares of the company’s stock worth $31,000 after purchasing an additional 1,122 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of Structure Therapeutics during the fourth quarter worth $34,000. FNY Investment Advisers LLC acquired a new position in shares of Structure Therapeutics in the 4th quarter valued at $40,000. Finally, Assetmark Inc. increased its position in shares of Structure Therapeutics by 120.0% in the 3rd quarter. Assetmark Inc. now owns 1,318 shares of the company’s stock valued at $58,000 after buying an additional 719 shares in the last quarter. Institutional investors 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.