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

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

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. 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 initiated coverage on shares of Structure Therapeutics in a report on Monday, September 23rd. They issued an “overweight” rating and a $118.00 price objective for the company. Finally, JMP Securities lowered their target price on shares of Structure Therapeutics from $91.00 to $86.00 and set a “market outperform” rating on the stock in a report on Friday, August 9th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Structure Therapeutics presently has an average rating of “Buy” and an average price target of $86.80.

Structure Therapeutics Price Performance

The business’s fifty day moving average price is $38.79 and its 200-day moving average price is $39.55. The stock has a market capitalization of $1.91 billion, a PE ratio of -45.15 and a beta of -3.23.

Institutional Trading of Structure Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Structure Therapeutics by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 45,225 shares of the company’s stock valued at $1,985,000 after purchasing an additional 312 shares in the last quarter. Barclays PLC boosted its stake in Structure Therapeutics by 64.5% during the third quarter. Barclays PLC now owns 81,138 shares of the company’s stock valued at $3,562,000 after buying an additional 31,815 shares during the period. Nomura Asset Management Co. Ltd. grew its position in Structure Therapeutics by 35.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 29,429 shares of the company’s stock worth $1,292,000 after buying an additional 7,719 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Structure Therapeutics in the 3rd quarter worth about $1,787,000. Finally, Pier Capital LLC increased its stake in Structure Therapeutics by 32.7% in the 3rd quarter. Pier Capital LLC now owns 134,291 shares of the company’s stock worth $5,894,000 after acquiring an additional 33,087 shares during the last quarter. 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.