Structure Therapeutics (NASDAQ:GPCR) Trading 9.3% Higher – Here’s Why

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

Analyst Ratings Changes

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

Structure Therapeutics Price Performance

The firm’s 50 day simple moving average is $38.79 and its two-hundred day simple moving average is $39.55. The firm has a market capitalization of $1.91 billion, a P/E ratio of -45.15 and a beta of -3.23.

Institutional Investors Weigh In On Structure Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC increased its stake in Structure Therapeutics by 34.5% in the 1st quarter. Janus Henderson Group PLC now owns 2,076,700 shares of the company’s stock worth $88,994,000 after purchasing an additional 532,284 shares during the period. Artal Group S.A. increased its stake in shares of Structure Therapeutics by 75.3% in the first quarter. Artal Group S.A. now owns 151,780 shares of the company’s stock worth $6,505,000 after buying an additional 65,180 shares during the period. RA Capital Management L.P. raised its holdings in 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 valued at $64,734,000 after buying an additional 1,023,530 shares during the last quarter. Virtu Financial LLC purchased a new stake in Structure Therapeutics during the 1st quarter valued at $308,000. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in Structure Therapeutics by 17.8% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 13,733 shares of the company’s stock worth $589,000 after acquiring an additional 2,077 shares during the last quarter. Institutional investors own 91.78% of the company’s stock.

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.