Structure Therapeutics (NASDAQ:GPCR) Stock Price Up 8% Following Strong Earnings

Structure Therapeutics Inc. (NASDAQ:GPCR) shares rose 8% during trading on Thursday following a better than expected earnings announcement. The company traded as high as $21.07 and last traded at $21.48. Approximately 527,092 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 768,022 shares. The stock had previously closed at $19.88.

The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.01.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. JMP Securities reissued a “market outperform” rating and set a $91.00 price target on shares of Structure Therapeutics in a research note on Wednesday, December 18th. Stifel Nicolaus initiated coverage on Structure Therapeutics in a research note on Wednesday, January 8th. They set a “buy” rating and a $50.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Structure Therapeutics in a research report on Thursday, December 19th. Finally, William Blair initiated coverage on Structure Therapeutics in a research report on Friday. They set an “outperform” rating for the company. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Structure Therapeutics has a consensus rating of “Buy” and an average target price of $81.29.

Institutional Investors Weigh In On Structure Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in shares of Structure Therapeutics by 2.9% during the 3rd quarter. Wellington Management Group LLP now owns 7,769,771 shares of the company’s stock worth $341,015,000 after purchasing an additional 221,851 shares during the last quarter. FMR LLC lifted its stake in shares of Structure Therapeutics by 6.7% during the 3rd quarter. FMR LLC now owns 6,128,444 shares of the company’s stock worth $268,977,000 after purchasing an additional 383,635 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Structure Therapeutics by 5.1% during the 4th quarter. Janus Henderson Group PLC now owns 4,159,888 shares of the company’s stock worth $112,816,000 after purchasing an additional 203,010 shares during the last quarter. Deep Track Capital LP increased its position in Structure Therapeutics by 129.4% during the 4th quarter. Deep Track Capital LP now owns 2,800,000 shares of the company’s stock valued at $75,936,000 after buying an additional 1,579,492 shares in the last quarter. Finally, Vestal Point Capital LP increased its position in Structure Therapeutics by 50.0% during the 4th quarter. Vestal Point Capital LP now owns 1,725,000 shares of the company’s stock valued at $46,782,000 after buying an additional 575,000 shares in the last quarter. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Structure Therapeutics Trading Up 4.4 %

The company has a 50-day moving average of $26.66 and a 200-day moving average of $33.66. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -31.90 and a beta of -2.75.

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.