Structure Therapeutics (NASDAQ:GPCR) Shares Gap Up - Still a Buy?

Structure Therapeutics Inc. (NASDAQ:GPCR - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $31.24, but opened at $32.55. Structure Therapeutics shares last traded at $32.64, with a volume of 90,481 shares changing hands.

Wall Street Analysts Forecast Growth

GPCR has been the subject of several research reports. JMP Securities decreased their price target on shares of Structure Therapeutics from $91.00 to $86.00 and set a "market outperform" rating for the company in a report on Friday, August 9th. Morgan Stanley started coverage on shares of Structure Therapeutics in a report on Monday, September 23rd. They set an "overweight" rating and a $118.00 price target on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $65.00 price target on shares of Structure Therapeutics in a research note on Monday, September 23rd. Finally, HC Wainwright assumed coverage on Structure Therapeutics in a research report on Wednesday. They set a "buy" rating and a $80.00 price objective for the company. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $85.67.

Structure Therapeutics Price Performance

The stock's fifty day moving average is $37.29 and its 200-day moving average is $39.33. The stock has a market capitalization of $1.91 billion, a P/E ratio of -45.07 and a beta of -3.41.

Institutional Investors Weigh In On Structure Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in GPCR. Principal Financial Group Inc. acquired a new position in Structure Therapeutics during the 2nd quarter worth $6,489,000. Natixis Advisors LLC boosted its position in shares of 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 acquiring an additional 4,321 shares during the period. Gilbert & Cook Inc. acquired a new stake in shares of Structure Therapeutics in the second quarter worth $229,000. TD Asset Management Inc increased its position in Structure Therapeutics by 47.9% during the second quarter. TD Asset Management Inc now owns 211,590 shares of the company's stock worth $8,309,000 after acquiring an additional 68,490 shares during the period. Finally, Pier Capital LLC increased its position in Structure Therapeutics by 3.7% during the second quarter. Pier Capital LLC now owns 101,204 shares of the company's stock worth $3,974,000 after acquiring an additional 3,647 shares during the period. 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.