Structure Therapeutics (NASDAQ:GPCR) Shares Up 7.5% - What's Next?
Structure Therapeutics (NASDAQ:GPCR) shares rose 7.5% to $16.97 during mid-day trading, with 584,887 shares traded. Analysts have given the stock a consensus "Buy" rating, with target prices ranging from $50 to $91. The company reported a quarterly EPS of ($0.22), beating estimates. Institutional investors hold 91.78% of the stock, with significant increases in holdings from several firms. Structure Therapeutics focuses on developing oral therapeutics for chronic diseases, including type-2 diabetes and obesity.
Structure Therapeutics Inc. (NASDAQ:GPCR - Get Free Report)'s stock price shot up 7.5% during mid-day trading on Wednesday . The stock traded as high as $17.16 and last traded at $16.97. 584,887 shares were traded during mid-day trading, a decline of 31% from the average session volume of 850,763 shares. The stock had previously closed at $15.79.
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Wall Street Analysts Forecast Growth
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Several brokerages have recently commented on GPCR. Stifel Nicolaus started coverage on Structure Therapeutics in a research note on Wednesday, January 8th. They set a "buy" rating and a $50.00 target price for the company. JMP Securities reiterated a "market outperform" rating and issued a $91.00 price target on shares of Structure Therapeutics in a research note on Wednesday, December 18th. William Blair initiated coverage on Structure Therapeutics in a research report on Friday, February 28th. They issued an "outperform" rating on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Structure Therapeutics in a report on Thursday, December 19th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $81.29.
Read Our Latest Stock Report on GPCR
Structure Therapeutics Trading Down 7.4 %
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The stock has a market capitalization of $867.03 million, a P/E ratio of -20.43 and a beta of -2.37. The business has a 50-day moving average price of $23.29 and a two-hundred day moving average price of $30.63.
Structure Therapeutics (NASDAQ:GPCR - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.01. On average, sell-side analysts forecast that Structure Therapeutics Inc. will post -0.82 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Structure Therapeutics
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Several institutional investors and hedge funds have recently added to or reduced their stakes in GPCR. Deep Track Capital LP raised its holdings in shares of Structure Therapeutics by 129.4% during the 4th quarter. Deep Track Capital LP now owns 2,800,000 shares of the company's stock worth $75,936,000 after buying an additional 1,579,492 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Structure Therapeutics by 196.5% in the third quarter. Point72 Asset Management L.P. now owns 1,238,268 shares of the company's stock worth $54,348,000 after acquiring an additional 820,589 shares during the last quarter. Vestal Point Capital LP boosted its stake in shares of Structure Therapeutics by 50.0% in the 4th quarter. Vestal Point Capital LP now owns 1,725,000 shares of the company's stock valued at $46,782,000 after purchasing an additional 575,000 shares in the last quarter. Boxer Capital Management LLC bought a new stake in shares of Structure Therapeutics during the 4th quarter valued at approximately $13,560,000. Finally, Marshall Wace LLP increased its position in Structure Therapeutics by 339.6% during the 4th quarter. Marshall Wace LLP now owns 583,207 shares of the company's stock worth $15,817,000 after purchasing an additional 450,531 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors.
About Structure Therapeutics
(Get Free Report)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.
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