Structure Therapeutics (NASDAQ:GPCR) Trading Up 9.3% – Time to Buy?

Structure Therapeutics Inc. (NASDAQ:GPCR)’s stock price rose 9.3% on Friday . The stock traded as high as $33.04 and last traded at $32.90. Approximately 607,312 shares changed 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

A number of equities analysts recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price target on shares of Structure Therapeutics in a report on Monday, September 23rd. Morgan Stanley initiated coverage on Structure Therapeutics in a research report on Monday, September 23rd. They issued an “overweight” rating and a $118.00 price target on the stock. Finally, JMP Securities lowered their price objective on shares of Structure Therapeutics from $91.00 to $86.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $86.80.

Structure Therapeutics Trading Up 11.8 %

The stock’s fifty day moving average is $38.94 and its two-hundred day moving average is $39.59. The firm has a market cap of $1.93 billion, a P/E ratio of -43.24 and a beta of -3.23.

Institutional Trading of Structure Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of GPCR. Sandia Investment Management LP bought a new stake in Structure Therapeutics in the 2nd quarter worth approximately $39,000. Assetmark Inc. lifted its holdings in shares of Structure Therapeutics by 120.0% in the third quarter. Assetmark Inc. now owns 1,318 shares of the company’s stock worth $58,000 after buying an additional 719 shares in the last quarter. Quarry LP purchased a new position in Structure Therapeutics during the 2nd quarter valued at approximately $79,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Structure Therapeutics by 60.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company’s stock valued at $158,000 after purchasing an additional 1,420 shares in the last quarter. Finally, Dearborn Partners LLC bought a new stake in Structure Therapeutics during the third quarter worth approximately $202,000. 91.78% of the stock is 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.