Structure Therapeutics (NASDAQ:GPCR) Earns Market Outperform Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Structure Therapeutics (NASDAQ:GPCR - Free Report) in a report issued on Wednesday,Benzinga reports. The firm currently has a $91.00 price objective on the stock.

Several other research firms have also commented on GPCR. Morgan Stanley assumed coverage on shares of Structure Therapeutics in a research note on Monday, September 23rd. They issued an "overweight" rating and a $118.00 price objective for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $65.00 price target on shares of Structure Therapeutics in a research report on Monday, September 23rd. Finally, HC Wainwright initiated coverage on Structure Therapeutics in a research report on Wednesday, December 4th. They issued a "buy" rating and a $80.00 price objective on the stock. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Structure Therapeutics currently has a consensus rating of "Buy" and an average price target of $86.50.

Structure Therapeutics Stock Performance

GPCR traded down $3.58 during mid-day trading on Wednesday, reaching $27.90. 3,400,913 shares of the stock were exchanged, compared to its average volume of 794,937. Structure Therapeutics has a 1 year low of $26.23 and a 1 year high of $62.74. The stock has a market capitalization of $1.60 billion, a PE ratio of -37.70 and a beta of -3.41. The company has a 50 day moving average price of $35.95 and a two-hundred day moving average price of $39.17.

Institutional Trading of Structure Therapeutics

Several hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Structure Therapeutics by 2.9% during the 3rd quarter. Wellington Management Group LLP now owns 7,769,771 shares of the company's stock worth $341,015,000 after acquiring an additional 221,851 shares during the period. FMR LLC lifted its holdings in Structure Therapeutics by 6.7% during the third quarter. FMR LLC now owns 6,128,444 shares of the company's stock valued at $268,977,000 after purchasing an additional 383,635 shares during the last quarter. Janus Henderson Group PLC boosted its position in Structure Therapeutics by 18.0% during the third quarter. Janus Henderson Group PLC now owns 3,956,878 shares of the company's stock worth $173,623,000 after purchasing an additional 602,609 shares during the period. Driehaus Capital Management LLC increased its stake in shares of Structure Therapeutics by 3.5% in the second quarter. Driehaus Capital Management LLC now owns 2,577,136 shares of the company's stock worth $101,204,000 after purchasing an additional 86,833 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Structure Therapeutics by 6.6% in the second quarter. Federated Hermes Inc. now owns 2,407,206 shares of the company's stock valued at $94,531,000 after purchasing an additional 150,000 shares during the period. 91.78% of the stock is currently owned by institutional investors.

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.