Structure Therapeutics (NASDAQ:GPCR) Shares Gap Up - Here's What Happened

Shares of Structure Therapeutics Inc. (NASDAQ:GPCR - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $27.18, but opened at $27.94. Structure Therapeutics shares last traded at $27.11, with a volume of 50,303 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $65.00 price target on shares of Structure Therapeutics in a research note on Monday, September 23rd. Stifel Nicolaus started coverage on shares of Structure Therapeutics in a research report on Wednesday. They set a "buy" rating and a $50.00 price objective for the company. Morgan Stanley assumed coverage on Structure Therapeutics in a report on Monday, September 23rd. They issued an "overweight" rating and a $118.00 target price on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $91.00 price target on shares of Structure Therapeutics in a report on Wednesday, December 18th. Finally, HC Wainwright reiterated a "buy" rating and issued a $80.00 price objective on shares of Structure Therapeutics in a report on Thursday, December 19th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $81.29.

Structure Therapeutics Price Performance

The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -36.54 and a beta of -2.78. The stock has a 50-day moving average price of $32.63 and a 200 day moving average price of $36.70.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new position in shares of Structure Therapeutics during the second quarter worth approximately $6,489,000. Natixis Advisors LLC increased its stake in Structure Therapeutics by 29.4% in the second quarter. Natixis Advisors LLC now owns 19,005 shares of the company's stock valued at $746,000 after purchasing an additional 4,321 shares during the period. TD Asset Management Inc raised its holdings in shares of Structure Therapeutics by 47.9% in the second quarter. TD Asset Management Inc now owns 211,590 shares of the company's stock valued at $8,309,000 after buying an additional 68,490 shares during the last quarter. Pier Capital LLC raised its holdings in shares of Structure Therapeutics by 3.7% in the second quarter. Pier Capital LLC now owns 101,204 shares of the company's stock valued at $3,974,000 after buying an additional 3,647 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Structure Therapeutics by 66.4% during the second quarter. American Century Companies Inc. now owns 434,982 shares of the company's stock worth $17,082,000 after buying an additional 173,523 shares during the period. Hedge funds and other institutional investors own 91.78% of the company's stock.

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.