Structure Therapeutics (NASDAQ:GPCR) Stock Price Down 4.1% – Here’s Why

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

Analyst Upgrades and Downgrades

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

Structure Therapeutics Stock Performance

The company has a market capitalization of $1.79 billion, a P/E ratio of -42.84 and a beta of -3.23. The stock has a 50 day moving average price of $39.14 and a 200 day moving average price of $39.65.

Institutional Trading of Structure Therapeutics

A number of hedge funds have recently made changes to their positions in GPCR. Geode Capital Management LLC raised its stake in Structure Therapeutics by 0.7% during the third quarter. Geode Capital Management LLC now owns 45,225 shares of the company’s stock valued at $1,985,000 after buying an additional 312 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in Structure Therapeutics by 4.5% in the 2nd quarter. Squarepoint Ops LLC now owns 14,449 shares of the company’s stock worth $567,000 after buying an additional 617 shares during the period. Assetmark Inc. lifted its holdings in shares of 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 buying an additional 719 shares in the last quarter. Sandia Investment Management LP bought a new position in Structure Therapeutics during the second quarter valued at approximately $39,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Structure Therapeutics by 60.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company’s stock valued at $158,000 after purchasing an additional 1,420 shares in the last quarter. 91.78% of the stock is owned by 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.