Structure Therapeutics (NASDAQ:GPCR) Stock Price Up 8% Following Earnings Beat

Structure Therapeutics Inc. (NASDAQ:GPCR - Get Free Report)'s share price traded up 8% during trading on Thursday following a better than expected earnings announcement. The company traded as high as $21.07 and last traded at $21.48. 527,092 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 768,022 shares. The stock had previously closed at $19.88.

The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.01.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on GPCR shares. Stifel Nicolaus initiated coverage on Structure Therapeutics in a research report on Wednesday, January 8th. They set a "buy" rating and a $50.00 price objective for the company. JMP Securities restated a "market outperform" rating and issued a $91.00 price target on shares of Structure Therapeutics in a research note on Wednesday, December 18th. HC Wainwright restated a "buy" rating and issued a $80.00 price target on shares of Structure Therapeutics in a research note on Thursday, December 19th. Finally, William Blair started coverage on Structure Therapeutics in a research note on Friday. They issued an "outperform" rating on the stock. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Structure Therapeutics currently has a consensus rating of "Buy" and an average price target of $81.29.

Hedge Funds Weigh In On Structure Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of GPCR. Mirae Asset Global Investments Co. Ltd. lifted its position in Structure Therapeutics by 60.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company's stock valued at $158,000 after purchasing an additional 1,420 shares in the last quarter. abrdn plc lifted its position in shares of Structure Therapeutics by 132.7% in the third quarter. abrdn plc now owns 217,083 shares of the company's stock valued at $9,528,000 after acquiring an additional 123,789 shares in the last quarter. Janney Capital Management LLC purchased a new position in shares of Structure Therapeutics in the third quarter valued at about $290,000. Assetmark Inc. lifted its position in shares of Structure Therapeutics by 120.0% in the third quarter. Assetmark Inc. now owns 1,318 shares of the company's stock valued at $58,000 after acquiring an additional 719 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Structure Therapeutics in the third quarter valued at about $1,337,000. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

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Structure Therapeutics Price Performance

The company has a 50-day moving average price of $26.45 and a 200 day moving average price of $33.47. The firm has a market capitalization of $1.28 billion, a PE ratio of -30.19 and a beta of -2.75.

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.