Structure Therapeutics (NASDAQ:GPCR) Trading Down 8.9% – Here’s What Happened

Structure Therapeutics Inc. (NASDAQ:GPCR) shares fell 8.9% on Friday . The company traded as low as $34.31 and last traded at $34.33. 128,648 shares were traded during mid-day trading, a decline of 83% from the average session volume of 772,158 shares. The stock had previously closed at $37.69.

Analyst Ratings Changes

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

Structure Therapeutics Stock Performance

The stock’s 50-day moving average price is $39.44 and its two-hundred day moving average price is $39.83. The stock has a market capitalization of $2.01 billion, a PE ratio of -46.68 and a beta of -3.23.

Institutional Trading of Structure Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC grew its position in shares of Structure Therapeutics by 6.7% in the 3rd quarter. FMR LLC now owns 6,128,444 shares of the company’s stock worth $268,977,000 after buying an additional 383,635 shares during the period. Janus Henderson Group PLC grew its position in Structure Therapeutics by 18.0% during the 3rd quarter. Janus Henderson Group PLC now owns 3,956,878 shares of the company’s stock valued at $173,623,000 after purchasing an additional 602,609 shares during the last quarter. Driehaus Capital Management LLC grew its position in Structure Therapeutics by 3.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,577,136 shares of the company’s stock valued at $101,204,000 after purchasing an additional 86,833 shares during the last quarter. Federated Hermes Inc. grew its position in Structure Therapeutics by 6.6% during the 2nd quarter. Federated Hermes Inc. now owns 2,407,206 shares of the company’s stock valued at $94,531,000 after purchasing an additional 150,000 shares during the last quarter. Finally, Capital Research Global Investors grew its position in Structure Therapeutics by 56.9% during the 1st quarter. Capital Research Global Investors now owns 1,527,483 shares of the company’s stock valued at $65,468,000 after purchasing an additional 553,948 shares during the last quarter. 91.78% of the stock is owned by hedge funds and other institutional investors.

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.