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

Structure Therapeutics Inc. (NASDAQ:GPCR)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $31.24, but opened at $32.55. Structure Therapeutics shares last traded at $32.64, with a volume of 90,481 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Morgan Stanley assumed coverage on Structure Therapeutics in a research report on Monday, September 23rd. They issued an “overweight” rating and a $118.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Structure Therapeutics in a report on Monday, September 23rd. Finally, HC Wainwright began coverage on shares of Structure Therapeutics in a report on Wednesday. They set a “buy” rating and a $80.00 target price on the stock. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $85.67.

Structure Therapeutics Stock Up 6.8 %

The company has a market capitalization of $1.91 billion, a P/E ratio of -45.07 and a beta of -3.41. The business has a 50 day simple moving average of $37.29 and a 200-day simple moving average of $39.33.

Institutional Trading of Structure Therapeutics

Several hedge funds have recently bought and sold shares of GPCR. Sandia Investment Management LP acquired a new stake in shares of Structure Therapeutics in the second quarter valued at approximately $39,000. Assetmark Inc. grew its holdings in Structure Therapeutics by 120.0% in the 3rd quarter. Assetmark Inc. now owns 1,318 shares of the company’s stock worth $58,000 after buying an additional 719 shares in the last quarter. Quarry LP acquired a new stake in Structure Therapeutics in the 2nd quarter valued at approximately $79,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Structure Therapeutics by 60.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company’s stock valued at $158,000 after acquiring an additional 1,420 shares in the last quarter. Finally, Dearborn Partners LLC acquired a new position in Structure Therapeutics during the 3rd quarter worth $202,000. 91.78% of the stock is currently owned by institutional investors.

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.