Structure Therapeutics (NASDAQ:GPCR) Shares Gap Up – Time to Buy?

Structure Therapeutics Inc. (NASDAQ:GPCR) shares gapped up prior to trading on Friday . The stock had previously closed at $29.97, but opened at $30.79. Structure Therapeutics shares last traded at $30.08, with a volume of 75,354 shares changing hands.

Analysts Set New Price Targets

A number of research firms have weighed in on GPCR. JMP Securities reissued a “market outperform” rating and set a $91.00 price objective on shares of Structure Therapeutics in a report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 target price on shares of Structure Therapeutics in a research report on Monday, September 23rd. Morgan Stanley started coverage on Structure Therapeutics in a research note on Monday, September 23rd. They set an “overweight” rating and a $118.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Structure Therapeutics in a research report on Thursday. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $86.50.

Structure Therapeutics Stock Down 6.9 %

The firm’s fifty day moving average is $35.32 and its 200-day moving average is $38.75. The stock has a market capitalization of $1.60 billion, a PE ratio of -37.70 and a beta of -3.41.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new position in Structure Therapeutics in the 2nd quarter valued at approximately $1,064,000. Vestal Point Capital LP boosted its position in shares of Structure Therapeutics by 105.4% in the 3rd quarter. Vestal Point Capital LP now owns 1,150,000 shares of the company’s stock worth $50,474,000 after buying an additional 590,000 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new position in Structure Therapeutics during the 2nd quarter valued at about $1,178,000. abrdn plc raised its position in Structure Therapeutics by 132.7% during the third quarter. abrdn plc now owns 217,083 shares of the company’s stock worth $9,528,000 after acquiring an additional 123,789 shares during the last quarter. Finally, Pier Capital LLC grew its position in shares of Structure Therapeutics by 32.7% in the third quarter. Pier Capital LLC now owns 134,291 shares of the company’s stock valued at $5,894,000 after purchasing an additional 33,087 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.