Structure Therapeutics’ (GPCR) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reissued their market outperform rating on shares of Structure Therapeutics (NASDAQ:GPCR) in a research report report published on Wednesday,Benzinga reports. JMP Securities currently has a $91.00 price target on the stock.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley started coverage on shares of Structure Therapeutics in a report on Monday, September 23rd. They issued an “overweight” rating and a $118.00 target price for the company. HC Wainwright initiated coverage on Structure Therapeutics in a research note on Wednesday, December 4th. They issued a “buy” rating and a $80.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Structure Therapeutics in a report on Monday, September 23rd. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $86.50.

Structure Therapeutics Trading Up 4.8 %

Shares of GPCR traded up $1.35 during trading hours on Wednesday, reaching $29.25. The company had a trading volume of 267,812 shares, compared to its average volume of 792,549. Structure Therapeutics has a 12-month low of $26.23 and a 12-month high of $62.74. The firm has a 50 day simple moving average of $35.71 and a 200-day simple moving average of $39.09. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -39.53 and a beta of -3.41.

Institutional Trading of Structure Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of GPCR. Point72 Asset Management L.P. lifted its stake in shares of Structure Therapeutics by 196.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,238,268 shares of the company’s stock worth $54,348,000 after purchasing an additional 820,589 shares during the period. Janus Henderson Group PLC increased its stake in Structure Therapeutics by 18.0% in the third quarter. Janus Henderson Group PLC now owns 3,956,878 shares of the company’s stock valued at $173,623,000 after purchasing an additional 602,609 shares during the last quarter. Vestal Point Capital LP lifted its position in Structure Therapeutics by 105.4% during the third quarter. Vestal Point Capital LP now owns 1,150,000 shares of the company’s stock worth $50,474,000 after buying an additional 590,000 shares during the period. First Light Asset Management LLC lifted its position in Structure Therapeutics by 296.1% during the second quarter. First Light Asset Management LLC now owns 590,647 shares of the company’s stock worth $23,195,000 after buying an additional 441,534 shares during the period. Finally, FMR LLC boosted its stake in Structure Therapeutics by 6.7% in the 3rd quarter. FMR LLC now owns 6,128,444 shares of the company’s stock worth $268,977,000 after buying an additional 383,635 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.