Structure Therapeutics (NASDAQ:GPCR) Trading Down 8.9% – What’s Next?

Structure Therapeutics Inc. (NASDAQ:GPCR) traded down 8.9% during mid-day trading on Friday . The stock traded as low as $34.31 and last traded at $34.33. 128,648 shares traded hands 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.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. JMP Securities dropped 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. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 target price on shares of Structure Therapeutics in a research note on Monday, September 23rd. Finally, Morgan Stanley started coverage on Structure Therapeutics in a research report on Monday, September 23rd. They set an “overweight” rating and a $118.00 price target for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $86.80.

Structure Therapeutics Stock Down 9.3 %

The firm’s 50-day simple moving average is $39.38 and its 200 day simple moving average is $39.79. The firm has a market cap of $1.95 billion, a P/E ratio of -46.18 and a beta of -3.23.

Institutional Investors Weigh In On Structure Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Sandia Investment Management LP purchased a new stake in Structure Therapeutics in the second quarter worth $39,000. Assetmark Inc. lifted its position in shares of Structure Therapeutics by 120.0% during the 3rd quarter. Assetmark Inc. now owns 1,318 shares of the company’s stock valued at $58,000 after buying an additional 719 shares during the last quarter. Quarry LP bought a new position in shares of Structure Therapeutics during the 2nd 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 worth $158,000 after acquiring an additional 1,420 shares during the last quarter. Finally, Dearborn Partners LLC bought a new stake in Structure Therapeutics in the 3rd quarter valued at about $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.