Structure Therapeutics (NASDAQ:GPCR) Shares Gap Up – What’s Next?

Structure Therapeutics Inc. (NASDAQ:GPCR)’s share price gapped up before the market opened 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 traded.

Analyst Ratings Changes

GPCR has been the topic of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Structure Therapeutics in a report on Thursday. Morgan Stanley assumed coverage on shares of Structure Therapeutics in a research report on Monday, September 23rd. They set an “overweight” rating and a $118.00 target price on the stock. JMP Securities reissued a “market outperform” rating and set a $91.00 price target on shares of Structure Therapeutics in a research note on Wednesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Structure Therapeutics in a research report on Monday, September 23rd. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Structure Therapeutics has an average rating of “Buy” and a consensus price target of $86.50.

Structure Therapeutics Trading Down 6.9 %

The firm has a market capitalization of $1.60 billion, a PE ratio of -37.70 and a beta of -3.41. The firm has a 50-day moving average of $35.32 and a two-hundred day moving average of $38.75.

Hedge Funds Weigh In On Structure Therapeutics

A number of large investors have recently modified their holdings of GPCR. Sandia Investment Management LP acquired a new position in Structure Therapeutics during the second quarter valued at approximately $39,000. Assetmark Inc. increased its holdings in 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 purchasing an additional 719 shares in the last quarter. Quarry LP purchased a new position in Structure Therapeutics in the second quarter valued at about $79,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Structure Therapeutics by 60.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company’s stock worth $158,000 after purchasing an additional 1,420 shares in the last quarter. Finally, Dearborn Partners LLC purchased a new stake in shares of Structure Therapeutics in the third quarter worth about $202,000. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

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.