Structure Therapeutics (NASDAQ:GPCR) Sees Unusually-High Trading Volume – Still a Buy?

Structure Therapeutics Inc. (NASDAQ:GPCR) shares saw unusually-high trading volume on Thursday . Approximately 1,068,776 shares changed hands during trading, an increase of 22% from the previous session’s volume of 877,833 shares.The stock last traded at $22.02 and had previously closed at $18.53.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. William Blair initiated coverage on shares of Structure Therapeutics in a research report on Friday, February 28th. They issued an “outperform” rating for the company. Stifel Nicolaus assumed coverage on Structure Therapeutics in a report on Wednesday, January 8th. They issued a “buy” rating and a $50.00 price objective for the company. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $81.29.

Structure Therapeutics Price Performance

The stock has a market cap of $1.25 billion, a P/E ratio of -29.41 and a beta of -1.35. The stock has a 50-day simple moving average of $20.23 and a 200-day simple moving average of $28.51.

Structure Therapeutics (NASDAQ:GPCR) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.01. As a group, sell-side analysts forecast that Structure Therapeutics Inc. will post -0.82 earnings per share for the current year.

Institutional Investors Weigh In On Structure Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Deep Track Capital LP increased its stake in shares of Structure Therapeutics by 129.4% in the fourth quarter. Deep Track Capital LP now owns 2,800,000 shares of the company’s stock valued at $75,936,000 after buying an additional 1,579,492 shares during the period. Vestal Point Capital LP increased its position in Structure Therapeutics by 50.0% in the 4th quarter. Vestal Point Capital LP now owns 1,725,000 shares of the company’s stock valued at $46,782,000 after acquiring an additional 575,000 shares during the period. Boxer Capital Management LLC bought a new position in shares of Structure Therapeutics during the fourth quarter valued at $13,560,000. Marshall Wace LLP lifted its holdings in shares of Structure Therapeutics by 339.6% during the fourth quarter. Marshall Wace LLP now owns 583,207 shares of the company’s stock worth $15,817,000 after purchasing an additional 450,531 shares during the period. Finally, Foresite Capital Management VI LLC bought a new stake in shares of Structure Therapeutics in the fourth quarter worth $11,390,000. Institutional investors own 91.78% of the company’s stock.

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.