Structure Therapeutics (NASDAQ:GPCR) Shares Up 6.6% – Here’s What Happened

Structure Therapeutics Inc. Sponsored ADR (NASDAQ:GPCR)’s share price shot up 6.6% during mid-day trading on Wednesday . The stock traded as high as $37.10 and last traded at $36.7660. 771,633 shares traded hands during mid-day trading, a decline of 17% from the average session volume of 929,127 shares. The stock had previously closed at $34.50.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. HC Wainwright cut their price objective on Structure Therapeutics from $75.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Zacks Research lowered Structure Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Friday, October 17th. Guggenheim reduced their target price on Structure Therapeutics from $92.00 to $90.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Piper Sandler reiterated an “overweight” rating on shares of Structure Therapeutics in a research report on Tuesday, October 28th. Finally, JMP Securities dropped their price target on Structure Therapeutics from $89.00 to $87.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Structure Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.67.

Structure Therapeutics Price Performance

The firm’s fifty day moving average is $28.44 and its 200 day moving average is $23.46. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -31.46 and a beta of -1.63.

Structure Therapeutics (NASDAQ:GPCR) last issued its earnings results on Thursday, November 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.01). Equities research analysts forecast that Structure Therapeutics Inc. Sponsored ADR will post -0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Structure Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in GPCR. Readystate Asset Management LP grew its stake in shares of Structure Therapeutics by 129.9% in the 1st quarter. Readystate Asset Management LP now owns 481,241 shares of the company’s stock valued at $8,330,000 after buying an additional 271,899 shares in the last quarter. ANTIPODES PARTNERS Ltd raised its position in Structure Therapeutics by 310.7% during the first quarter. ANTIPODES PARTNERS Ltd now owns 4,247 shares of the company’s stock valued at $74,000 after acquiring an additional 3,213 shares in the last quarter. National Bank of Canada FI lifted its stake in Structure Therapeutics by 1,448.2% in the first quarter. National Bank of Canada FI now owns 2,957 shares of the company’s stock valued at $51,000 after acquiring an additional 2,766 shares during the last quarter. Invesco Ltd. grew its position in Structure Therapeutics by 6.1% in the first quarter. Invesco Ltd. now owns 394,386 shares of the company’s stock worth $6,827,000 after acquiring an additional 22,619 shares in the last quarter. Finally, Aberdeen Group plc grew its position in Structure Therapeutics by 45.2% in the first quarter. Aberdeen Group plc now owns 248,899 shares of the company’s stock worth $4,308,000 after acquiring an additional 77,511 shares in the last quarter. 91.78% of the stock is owned by hedge funds and other institutional investors.

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.