Structure Therapeutics (NASDAQ:GPCR) Shares Gap Up to $37.88

Structure Therapeutics Inc. (NASDAQ:GPCR)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $37.88, but opened at $38.93. Structure Therapeutics shares last traded at $37.96, with a volume of 59,846 shares.

Wall Street Analysts Forecast Growth

GPCR has been the subject of several recent research reports. JMP Securities reaffirmed a “market outperform” rating and set a $91.00 price target on shares of Structure Therapeutics in a report on Friday, May 10th. BMO Capital Markets lifted their target price on shares of Structure Therapeutics from $83.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, June 7th. JPMorgan Chase & Co. began coverage on shares of Structure Therapeutics in a report on Tuesday, May 21st. They set an “overweight” rating and a $65.00 price target for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 price objective on shares of Structure Therapeutics in a research report on Monday, June 17th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Structure Therapeutics currently has an average rating of “Buy” and an average price target of $85.25.

Structure Therapeutics Stock Performance

The stock’s 50 day moving average price is $41.45 and its two-hundred day moving average price is $41.92.

Structure Therapeutics (NASDAQ:GPCR) last issued its earnings results on Thursday, May 9th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.02. Research analysts predict that Structure Therapeutics Inc. will post -0.94 earnings per share for the current year.

Hedge Funds Weigh In On Structure Therapeutics

Several hedge funds have recently bought and sold shares of the company. Boxer Capital LLC purchased a new stake in Structure Therapeutics during the fourth quarter worth $16,304,000. Federated Hermes Inc. raised its stake in shares of Structure Therapeutics by 104.2% during the 4th quarter. Federated Hermes Inc. now owns 2,267,206 shares of the company’s stock worth $92,411,000 after buying an additional 1,157,006 shares during the last quarter. Avoro Capital Advisors LLC boosted its position in shares of Structure Therapeutics by 133.3% in the 4th quarter. Avoro Capital Advisors LLC now owns 2,333,333 shares of the company’s stock worth $95,107,000 after buying an additional 1,333,333 shares in the last quarter. Octagon Capital Advisors LP acquired a new stake in Structure Therapeutics in the 4th quarter valued at about $16,875,000. Finally, Capital International Investors acquired a new stake in Structure Therapeutics in the 4th quarter valued at about $34,647,000. 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.