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

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

Analysts Set New Price Targets

Several equities analysts have issued reports on GPCR shares. JMP Securities lowered 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 note on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price objective on shares of Structure Therapeutics in a research note on Monday, September 23rd. Finally, Morgan Stanley assumed coverage on shares of Structure Therapeutics in a research note on Monday, September 23rd. They set an “overweight” rating and a $118.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Structure Therapeutics currently has an average rating of “Buy” and a consensus target price of $86.80.

Structure Therapeutics Stock Performance

The business’s fifty day simple moving average is $39.44 and its 200-day simple moving average is $39.83. The firm has a market capitalization of $2.01 billion, a PE ratio of -46.68 and a beta of -3.23.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. grew its holdings in shares of Structure Therapeutics by 196.5% in the third quarter. Point72 Asset Management L.P. now owns 1,238,268 shares of the company’s stock valued at $54,348,000 after purchasing an additional 820,589 shares in the last quarter. Ikarian Capital LLC purchased a new position in shares of Structure Therapeutics in the third quarter valued at $5,056,000. Janus Henderson Group PLC grew its holdings in shares of Structure Therapeutics by 18.0% in the third 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 in the last quarter. Cinctive Capital Management LP lifted its position in Structure Therapeutics by 111.0% in the third quarter. Cinctive Capital Management LP now owns 32,094 shares of the company’s stock worth $1,409,000 after buying an additional 16,883 shares during the last quarter. Finally, Baker BROS. Advisors LP bought a new stake in Structure Therapeutics in the third quarter worth $3,753,000. 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.