Structure Therapeutics (NASDAQ:GPCR) Shares Up 8% on Earnings Beat

Structure Therapeutics Inc. (NASDAQ:GPCR)’s stock price shot up 8% on Thursday following a better than expected earnings announcement. The company traded as high as $21.07 and last traded at $21.48. 527,092 shares changed hands during trading, a decline of 31% from the average session volume of 768,022 shares. The stock had previously closed at $19.88.

The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.01.

Analyst Ratings Changes

GPCR has been the topic of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of Structure Therapeutics in a report on Thursday, December 19th. JMP Securities reiterated 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 initiated coverage on Structure Therapeutics in a report on Wednesday, January 8th. They set a “buy” rating and a $50.00 price objective for the company. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $81.29.

Institutional Investors Weigh In On Structure Therapeutics

Hedge funds have recently bought and sold shares of the company. Deep Track Capital LP boosted its stake in Structure Therapeutics by 129.4% in the 4th quarter. Deep Track Capital LP now owns 2,800,000 shares of the company’s stock worth $75,936,000 after purchasing an additional 1,579,492 shares during the period. Point72 Asset Management L.P. lifted its stake in Structure Therapeutics by 196.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,238,268 shares of the company’s stock valued at $54,348,000 after purchasing an additional 820,589 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Structure Therapeutics by 18.0% during the third quarter. Janus Henderson Group PLC now owns 3,956,878 shares of the company’s stock worth $173,623,000 after purchasing an additional 602,609 shares during the period. Vestal Point Capital LP raised its stake 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. Finally, Boxer Capital Management LLC acquired a new stake in shares of Structure Therapeutics in the fourth quarter valued at approximately $13,560,000. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Structure Therapeutics Trading Up 14.8 %

The company has a 50 day moving average price of $26.80 and a 200 day moving average price of $33.74. The company has a market capitalization of $1.31 billion, a P/E ratio of -30.84 and a beta of -2.75.

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.