Structure Therapeutics (NASDAQ:GPCR) Trading 6.6% Higher – Time to Buy?

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

Wall Street Analyst Weigh In

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

Structure Therapeutics Stock Performance

The firm’s 50-day simple moving average is $35.32 and its 200-day simple moving average is $38.86. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -37.70 and a beta of -3.41.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GPCR. Principal Financial Group Inc. bought a new position in shares of Structure Therapeutics in the second quarter worth about $6,489,000. Natixis Advisors LLC raised its position in shares of Structure Therapeutics by 29.4% during the second quarter. Natixis Advisors LLC now owns 19,005 shares of the company’s stock worth $746,000 after acquiring an additional 4,321 shares during the last quarter. Gilbert & Cook Inc. bought a new position in Structure Therapeutics in the second quarter valued at about $229,000. TD Asset Management Inc increased its position in Structure Therapeutics by 47.9% in the second quarter. TD Asset Management Inc now owns 211,590 shares of the company’s stock worth $8,309,000 after purchasing an additional 68,490 shares during the period. Finally, Pier Capital LLC raised its holdings in Structure Therapeutics by 3.7% during the 2nd quarter. Pier Capital LLC now owns 101,204 shares of the company’s stock worth $3,974,000 after purchasing an additional 3,647 shares during 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.