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% 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GPCR shares. JMP Securities cut their target price on Structure Therapeutics from $89.00 to $87.00 and set a “market outperform” rating for the company in a research note on Thursday, August 7th. HC Wainwright lowered their price target on Structure Therapeutics from $75.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Structure Therapeutics in a report on Wednesday, October 8th. Piper Sandler reaffirmed an “overweight” rating on shares of Structure Therapeutics in a research report on Tuesday, October 28th. Finally, Guggenheim lowered their target price on shares of Structure Therapeutics from $92.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.67.

Structure Therapeutics Trading Down 0.1%

The company has a market cap of $1.98 billion, a PE ratio of -28.13 and a beta of -1.63. The company has a fifty day simple moving average of $29.02 and a two-hundred day simple moving average of $23.62.

Structure Therapeutics (NASDAQ:GPCR) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.01). On average, research analysts anticipate that Structure Therapeutics Inc. Sponsored ADR will post -0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On Structure Therapeutics

Large investors have recently modified their holdings of the company. Balyasny Asset Management L.P. acquired a new stake in shares of Structure Therapeutics in the 3rd quarter valued at $12,923,000. Pacific Heights Asset Management LLC purchased a new position in Structure Therapeutics in the second quarter valued at $9,540,000. Orbimed Advisors LLC increased its holdings in Structure Therapeutics by 49.5% in the second quarter. Orbimed Advisors LLC now owns 1,199,300 shares of the company’s stock valued at $24,873,000 after buying an additional 397,272 shares during the last quarter. Paradigm Biocapital Advisors LP acquired a new stake in Structure Therapeutics in the third quarter valued at $10,440,000. Finally, Casdin Capital LLC lifted its holdings in Structure Therapeutics by 26.9% during the 3rd quarter. Casdin Capital LLC now owns 1,555,000 shares of the company’s stock worth $43,540,000 after buying an additional 330,000 shares during the last quarter. 91.78% of the stock is owned by hedge funds and other 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.