Structure Therapeutics (NASDAQ:GPCR) Stock Price Up 8.3% – Here’s What Happened

Structure Therapeutics Inc. (NASDAQ:GPCR) shares were up 8.3% during trading on Wednesday . The stock traded as high as $30.98 and last traded at $31.11. Approximately 414,883 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 749,362 shares. The stock had previously closed at $28.71.

Wall Street Analyst Weigh In

A number of analysts recently commented on GPCR shares. JMP Securities reaffirmed a “market outperform” rating and issued a $91.00 target price on shares of Structure Therapeutics in a research report on Wednesday, December 18th. HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Structure Therapeutics in a report on Thursday, December 19th. Finally, Stifel Nicolaus started coverage on Structure Therapeutics in a report on Wednesday, January 8th. They issued a “buy” rating and a $50.00 target price on the stock. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $81.29.

Structure Therapeutics Trading Down 1.4 %

The company has a fifty day moving average of $29.71 and a 200-day moving average of $35.40.

Institutional Trading of Structure Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP grew its position in Structure Therapeutics by 2.9% in the 3rd quarter. Wellington Management Group LLP now owns 7,769,771 shares of the company’s stock worth $341,015,000 after purchasing an additional 221,851 shares in the last quarter. FMR LLC grew its holdings in shares of Structure Therapeutics by 6.7% in the third quarter. FMR LLC now owns 6,128,444 shares of the company’s stock valued at $268,977,000 after acquiring an additional 383,635 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Structure Therapeutics by 18.0% during the third quarter. Janus Henderson Group PLC now owns 3,956,878 shares of the company’s stock valued at $173,623,000 after acquiring an additional 602,609 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in Structure Therapeutics by 196.5% during the third quarter. Point72 Asset Management L.P. now owns 1,238,268 shares of the company’s stock worth $54,348,000 after acquiring an additional 820,589 shares during the period. Finally, Vestal Point Capital LP boosted its position in Structure Therapeutics by 105.4% in the third quarter. Vestal Point Capital LP now owns 1,150,000 shares of the company’s stock worth $50,474,000 after purchasing an additional 590,000 shares during the last quarter. Hedge funds and other 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.