Structure Therapeutics (NASDAQ:GPCR) Trading Up 9.3% – Should You Buy?

Structure Therapeutics Inc. (NASDAQ:GPCR) shares shot up 9.3% during mid-day trading on Friday . The stock traded as high as $33.04 and last traded at $32.90. 607,312 shares traded hands during trading, a decline of 22% from the average session volume of 781,340 shares. The stock had previously closed at $30.10.

Analyst Upgrades and Downgrades

GPCR has been the topic of several research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price target on shares of Structure Therapeutics in a report on Monday, September 23rd. JMP Securities reduced their target price on shares of Structure Therapeutics from $91.00 to $86.00 and set a “market outperform” rating for the company in a report on Friday, August 9th. Finally, Morgan Stanley began coverage on Structure Therapeutics in a research note on Monday, September 23rd. They set an “overweight” rating and a $118.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Structure Therapeutics has a consensus rating of “Buy” and an average price target of $86.80.

Structure Therapeutics Trading Up 11.8 %

The stock has a market cap of $1.93 billion, a PE ratio of -43.24 and a beta of -3.23. The business has a 50 day moving average of $38.94 and a 200-day moving average of $39.59.

Institutional Investors Weigh In On Structure Therapeutics

Hedge funds have recently modified their holdings of the stock. RA Capital Management L.P. grew its stake in shares of Structure Therapeutics by 210.2% during the 1st quarter. RA Capital Management L.P. now owns 1,510,362 shares of the company’s stock worth $64,734,000 after purchasing an additional 1,023,530 shares during the period. Point72 Asset Management L.P. increased its holdings in Structure Therapeutics by 196.5% in the third quarter. Point72 Asset Management L.P. now owns 1,238,268 shares of the company’s stock valued at $54,348,000 after buying an additional 820,589 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Structure Therapeutics by 18.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,956,878 shares of the company’s stock worth $173,623,000 after acquiring an additional 602,609 shares during the period. Vestal Point Capital LP increased its stake in Structure Therapeutics by 105.4% in the 3rd quarter. Vestal Point Capital LP now owns 1,150,000 shares of the company’s stock valued at $50,474,000 after purchasing an additional 590,000 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in Structure Therapeutics by 56.9% during the first quarter. Capital Research Global Investors now owns 1,527,483 shares of the company’s stock worth $65,468,000 after purchasing an additional 553,948 shares in the last quarter. 91.78% of the stock is 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.