Structure Therapeutics (NASDAQ:GPCR) Stock Price Up 6.6% – Here’s What Happened

Shares of Structure Therapeutics Inc. (NASDAQ:GPCR) traded up 6.6% during mid-day trading on Thursday . The stock traded as high as $30.09 and last traded at $29.75. 371,261 shares were traded during mid-day trading, a decline of 53% from the average session volume of 793,070 shares. The stock had previously closed at $27.90.

Analyst Ratings Changes

GPCR has been the subject of a number of research analyst reports. JMP Securities reissued a “market outperform” rating and issued a $91.00 target price on shares of Structure Therapeutics in a report on Wednesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 target price on shares of Structure Therapeutics in a research report on Monday, September 23rd. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Structure Therapeutics in a report on Thursday. Finally, Morgan Stanley initiated coverage on shares of Structure Therapeutics in a report on Monday, September 23rd. They set an “overweight” rating and a $118.00 price objective for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $86.50.

Structure Therapeutics Trading Up 9.7 %

The firm has a market capitalization of $1.75 billion, a P/E ratio of -41.35 and a beta of -3.41. The stock has a 50 day simple moving average of $35.71 and a 200-day simple moving average of $39.09.

Institutional Investors Weigh In On Structure Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its stake in shares of Structure Therapeutics by 230.0% during the 3rd quarter. Principal Financial Group Inc. now owns 545,359 shares of the company’s stock valued at $23,936,000 after acquiring an additional 380,115 shares during the period. Exome Asset Management LLC purchased a new position in Structure Therapeutics during the third quarter valued at approximately $5,274,000. Franklin Resources Inc. boosted its position in shares of Structure Therapeutics by 9.4% in the third quarter. Franklin Resources Inc. now owns 706,106 shares of the company’s stock worth $30,991,000 after purchasing an additional 60,397 shares during the period. Geode Capital Management LLC increased its stake in shares of Structure Therapeutics by 0.7% in the third quarter. Geode Capital Management LLC now owns 45,225 shares of the company’s stock worth $1,985,000 after purchasing an additional 312 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Structure Therapeutics by 64.5% during the 3rd quarter. Barclays PLC now owns 81,138 shares of the company’s stock valued at $3,562,000 after purchasing an additional 31,815 shares during the period. 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.