Structure Therapeutics (NASDAQ:GPCR) Trading Down 4.1% – Here’s What Happened

Shares of Structure Therapeutics Inc. (NASDAQ:GPCR) fell 4.1% on Thursday . The company traded as low as $31.37 and last traded at $31.38. 75,580 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 779,388 shares. The stock had previously closed at $32.71.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GPCR shares. JMP Securities decreased their target price on Structure Therapeutics from $91.00 to $86.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. Morgan Stanley started coverage on shares of Structure Therapeutics in a research note on Monday, September 23rd. They issued an “overweight” rating and a $118.00 target price on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 target price on shares of Structure Therapeutics in a research report on Monday, September 23rd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $86.80.

Structure Therapeutics Trading Up 11.0 %

The stock has a market capitalization of $1.91 billion, a P/E ratio of -45.15 and a beta of -3.23. The business’s fifty day simple moving average is $38.79 and its two-hundred day simple moving average is $39.54.

Institutional Investors Weigh In On Structure Therapeutics

Hedge funds have recently made changes to their positions in the stock. Sandia Investment Management LP acquired a new position in Structure Therapeutics in the 2nd quarter valued at approximately $39,000. Assetmark Inc. lifted its position in Structure Therapeutics by 120.0% in the third quarter. Assetmark Inc. now owns 1,318 shares of the company’s stock worth $58,000 after purchasing an additional 719 shares during the period. Quarry LP acquired a new stake in Structure Therapeutics during the second quarter worth $79,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Structure Therapeutics by 60.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company’s stock valued at $158,000 after buying an additional 1,420 shares during the period. Finally, Dearborn Partners LLC acquired a new position in shares of Structure Therapeutics in the 3rd quarter valued at $202,000. 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.