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

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

Analysts Set New Price Targets

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

Structure Therapeutics Price Performance

The firm has a market capitalization of $1.56 billion, a P/E ratio of -36.80 and a beta of -2.78. The stock’s fifty day simple moving average is $32.85 and its 200 day simple moving average is $36.77.

Institutional Trading of Structure Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its position in Structure Therapeutics by 2.9% during the third quarter. Wellington Management Group LLP now owns 7,769,771 shares of the company’s stock valued at $341,015,000 after purchasing an additional 221,851 shares during the period. FMR LLC raised its stake in shares of Structure Therapeutics by 6.7% during the 3rd quarter. FMR LLC now owns 6,128,444 shares of the company’s stock worth $268,977,000 after buying an additional 383,635 shares during the period. Janus Henderson Group PLC lifted its position in shares of Structure Therapeutics by 18.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,956,878 shares of the company’s stock valued at $173,623,000 after buying an additional 602,609 shares in the last quarter. Driehaus Capital Management LLC grew its position in shares of Structure Therapeutics by 3.5% in the second quarter. Driehaus Capital Management LLC now owns 2,577,136 shares of the company’s stock valued at $101,204,000 after purchasing an additional 86,833 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in Structure Therapeutics by 6.6% in the 2nd quarter. Federated Hermes Inc. now owns 2,407,206 shares of the company’s stock worth $94,531,000 after buying an additional 150,000 shares during the last quarter. 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.