Structure Therapeutics (NASDAQ:GPCR) Stock Price Up 9.4% - Here's What Happened

Structure Therapeutics Inc. (NASDAQ:GPCR - Get Free Report) shot up 9.4% during mid-day trading on Wednesday . The stock traded as high as $23.87 and last traded at $23.89. 672,440 shares were traded during mid-day trading, a decline of 22% from the average session volume of 862,229 shares. The stock had previously closed at $21.83.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GPCR. Citigroup began coverage on shares of Structure Therapeutics in a report on Friday, May 2nd. They issued a "buy" rating and a $60.00 price target on the stock. William Blair initiated coverage on shares of Structure Therapeutics in a report on Friday, February 28th. They set an "outperform" rating on the stock. Finally, HC Wainwright lowered their price target on shares of Structure Therapeutics from $80.00 to $75.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $76.50.

Structure Therapeutics Trading Down 2.4%

The firm's 50-day moving average is $22.64 and its two-hundred day moving average is $24.68. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -29.30 and a beta of -1.87.

Structure Therapeutics (NASDAQ:GPCR - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.03). On average, analysts predict that Structure Therapeutics Inc. will post -0.82 earnings per share for the current year.

Institutional Trading of Structure Therapeutics

Large investors have recently bought and sold shares of the business. ANTIPODES PARTNERS Ltd grew its stake in Structure Therapeutics by 115.0% during the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,034 shares of the company's stock valued at $28,000 after acquiring an additional 553 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of Structure Therapeutics in the 4th quarter valued at approximately $34,000. National Bank of Canada FI grew its stake in shares of Structure Therapeutics by 1,448.2% in the 1st quarter. National Bank of Canada FI now owns 2,957 shares of the company's stock valued at $51,000 after buying an additional 2,766 shares during the period. Virtus ETF Advisers LLC grew its stake in shares of Structure Therapeutics by 25.5% in the 4th quarter. Virtus ETF Advisers LLC now owns 2,242 shares of the company's stock valued at $61,000 after buying an additional 455 shares during the period. Finally, Assetmark Inc. grew its stake in shares of Structure Therapeutics by 72.3% in the 4th quarter. Assetmark Inc. now owns 2,271 shares of the company's stock valued at $62,000 after buying an additional 953 shares during the period. Hedge funds and other 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.