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

Shares of Structure Therapeutics Inc. (NASDAQ:GPCR) were up 8% during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $21.07 and last traded at $21.48. Approximately 527,092 shares were traded during 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) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.01.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Structure Therapeutics

A number of hedge funds have recently bought and sold shares of GPCR. Deep Track Capital LP boosted its position in Structure Therapeutics by 129.4% during the fourth quarter. Deep Track Capital LP now owns 2,800,000 shares of the company’s stock worth $75,936,000 after purchasing an additional 1,579,492 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Structure Therapeutics by 196.5% during the third 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 in the last quarter. Janus Henderson Group PLC boosted its position in Structure Therapeutics by 18.0% during the third quarter. Janus Henderson Group PLC now owns 3,956,878 shares of the company’s stock worth $173,623,000 after purchasing an additional 602,609 shares in the last quarter. Vestal Point Capital LP boosted 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 purchasing an additional 590,000 shares in the last quarter. Finally, Boxer Capital Management LLC purchased a new position in Structure Therapeutics during the fourth quarter worth approximately $13,560,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Structure Therapeutics Stock Up 4.4 %

The company has a market cap of $1.36 billion, a PE ratio of -31.90 and a beta of -2.75. The business has a 50-day simple moving average of $26.66 and a 200-day simple moving average of $33.66.

Structure Therapeutics Company Profile

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.