Structure Therapeutics (NASDAQ:GPCR) Stock Price Up 6.6% – Still a Buy?

Structure Therapeutics Inc. (NASDAQ:GPCR) shares rose 6.6% during mid-day trading on Thursday . The company traded as high as $30.09 and last traded at $29.75. Approximately 371,261 shares changed hands during mid-day 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

A number of analysts have recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Structure Therapeutics in a research report on Monday, September 23rd. They set an “overweight” rating and a $118.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Structure Therapeutics in a research note on Thursday. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price objective on shares of Structure Therapeutics in a research note on Monday, September 23rd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $91.00 target price on shares of Structure Therapeutics in a research report on Wednesday. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $86.50.

Structure Therapeutics Stock Performance

The stock has a 50 day moving average of $35.32 and a 200 day moving average of $38.86. The stock has a market capitalization of $1.60 billion, a P/E ratio of -37.70 and a beta of -3.41.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GPCR. Sandia Investment Management LP acquired a new stake in Structure Therapeutics in the 2nd quarter valued at approximately $39,000. Assetmark Inc. increased its holdings in shares of Structure Therapeutics by 120.0% during the third quarter. Assetmark Inc. now owns 1,318 shares of the company’s stock valued at $58,000 after purchasing an additional 719 shares during the period. Quarry LP bought a new stake in shares of Structure Therapeutics during the second quarter valued at about $79,000. Mirae Asset Global Investments Co. Ltd. grew its position in Structure Therapeutics by 60.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company’s stock valued at $158,000 after buying an additional 1,420 shares in the last quarter. Finally, Dearborn Partners LLC acquired a new position in Structure Therapeutics during the 3rd quarter valued at about $202,000. Institutional investors own 91.78% of the company’s stock.

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.