Structure Therapeutics (NASDAQ:GPCR) Shares Up 6.6% - Still a Buy?

Structure Therapeutics Inc. (NASDAQ:GPCR - Get Free Report) shares rose 6.6% during trading on Thursday . The company traded as high as $30.09 and last traded at $29.75. Approximately 371,261 shares changed hands during trading, a decline of 53% from the average daily volume of 793,070 shares. The stock had previously closed at $27.90.

Analyst Ratings Changes

GPCR has been the subject of several recent research reports. Morgan Stanley assumed coverage on Structure Therapeutics in a research report on Monday, September 23rd. They set an "overweight" rating and a $118.00 price objective for the company. HC Wainwright restated a "buy" rating and issued a $80.00 price target on shares of Structure Therapeutics in a research report on Thursday. JMP Securities reaffirmed a "market outperform" rating and issued a $91.00 price objective on shares of Structure Therapeutics in a research note on Wednesday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $65.00 price target on shares of Structure Therapeutics in a research note on Monday, September 23rd. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $86.50.

Structure Therapeutics Stock Performance

The firm has a market capitalization of $1.72 billion, a PE ratio of -40.50 and a beta of -3.41. The firm has a fifty day moving average of $35.53 and a 200 day moving average of $39.03.

Institutional Investors Weigh In On Structure Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of Structure Therapeutics by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 45,225 shares of the company's stock worth $1,985,000 after purchasing an additional 312 shares during the last quarter. Squarepoint Ops LLC grew its position in Structure Therapeutics by 4.5% in the second quarter. Squarepoint Ops LLC now owns 14,449 shares of the company's stock worth $567,000 after buying an additional 617 shares during the last quarter. Assetmark Inc. increased its holdings 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 buying an additional 719 shares in the last quarter. Sandia Investment Management LP acquired a new stake in shares of Structure Therapeutics during the 2nd quarter valued at $39,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Structure Therapeutics by 60.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company's stock valued at $158,000 after acquiring an additional 1,420 shares during the last quarter. 91.78% of the stock is currently owned by institutional investors.

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.