Structure Therapeutics (NASDAQ:GPCR) Sees Large Volume Increase - Time to Buy?

Shares of Structure Therapeutics Inc. (NASDAQ:GPCR - Get Free Report) saw unusually-high trading volume on Thursday . Approximately 1,068,776 shares changed hands during mid-day trading, an increase of 22% from the previous session's volume of 877,833 shares.The stock last traded at $22.02 and had previously closed at $18.53.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GPCR shares. William Blair assumed coverage on Structure Therapeutics in a report on Friday, February 28th. They set an "outperform" rating on the stock. Stifel Nicolaus started coverage on shares of Structure Therapeutics in a research note on Wednesday, January 8th. They set a "buy" rating and a $50.00 price objective on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $80.00 target price on shares of Structure Therapeutics in a research note on Tuesday. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $81.29.

Structure Therapeutics Stock Performance

The firm has a market capitalization of $1.32 billion, a P/E ratio of -31.13 and a beta of -1.35. The firm's 50-day moving average is $20.21 and its 200 day moving average is $28.17.

Structure Therapeutics (NASDAQ:GPCR - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.23) by $0.01. As a group, research analysts expect that Structure Therapeutics Inc. will post -0.82 EPS for the current fiscal year.

Institutional Trading of Structure Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in GPCR. Janus Henderson Group PLC grew its position in Structure Therapeutics by 5.1% in the fourth quarter. Janus Henderson Group PLC now owns 4,159,888 shares of the company's stock valued at $112,816,000 after purchasing an additional 203,010 shares in the last quarter. Deep Track Capital LP grew its holdings in shares of Structure Therapeutics by 129.4% in the 4th quarter. Deep Track Capital LP now owns 2,800,000 shares of the company's stock valued at $75,936,000 after acquiring an additional 1,579,492 shares in the last quarter. Vestal Point Capital LP increased its position in shares of Structure Therapeutics by 50.0% in the fourth quarter. Vestal Point Capital LP now owns 1,725,000 shares of the company's stock valued at $46,782,000 after acquiring an additional 575,000 shares during the last quarter. Capital International Investors raised its holdings in Structure Therapeutics by 6.8% during the fourth quarter. Capital International Investors now owns 1,619,081 shares of the company's stock worth $43,909,000 after acquiring an additional 103,059 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Structure Therapeutics by 29.4% during the fourth quarter. Ameriprise Financial Inc. now owns 1,420,052 shares of the company's stock valued at $38,512,000 after purchasing an additional 322,601 shares during the last quarter. 91.78% of the stock is currently owned by institutional investors and hedge funds.

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.