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

Structure Therapeutics Inc. (NASDAQ:GPCR) was down 8.9% during trading on Friday . The stock traded as low as $34.31 and last traded at $34.33. Approximately 128,648 shares changed hands during trading, a decline of 83% from the average daily volume of 772,158 shares. The stock had previously closed at $37.69.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GPCR. Morgan Stanley assumed coverage on Structure Therapeutics in a research note on Monday, September 23rd. They issued an “overweight” rating and a $118.00 price target on the stock. JMP Securities dropped their target price 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, Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 price target on shares of Structure Therapeutics in a report on Monday, September 23rd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $86.80.

Structure Therapeutics Stock Down 9.3 %

The stock has a 50 day simple moving average of $39.38 and a 200 day simple moving average of $39.79. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -46.18 and a beta of -3.23.

Institutional Trading of Structure Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sandia Investment Management LP bought a new position in shares of Structure Therapeutics in the second quarter valued at $39,000. Assetmark Inc. boosted its stake in 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 purchasing an additional 719 shares during the last quarter. Quarry LP acquired a new position in Structure Therapeutics during the 2nd quarter valued at about $79,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Structure Therapeutics by 60.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company’s stock worth $158,000 after purchasing an additional 1,420 shares in the last quarter. Finally, Dearborn Partners LLC purchased a new stake in shares of Structure Therapeutics in the third quarter worth approximately $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.