Structure Therapeutics (NASDAQ:GPCR) Shares Down 4.1% – Time to Sell?

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

Wall Street Analysts Forecast Growth

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

Structure Therapeutics Price Performance

The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -42.84 and a beta of -3.23. The business has a fifty day moving average of $39.14 and a 200 day moving average of $39.65.

Institutional Investors Weigh In On Structure Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Structure Therapeutics by 0.7% in 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 in the last quarter. Barclays PLC boosted its stake in Structure Therapeutics by 64.5% in the third quarter. Barclays PLC now owns 81,138 shares of the company’s stock worth $3,562,000 after purchasing an additional 31,815 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Structure Therapeutics by 35.6% during the third quarter. Nomura Asset Management Co. Ltd. now owns 29,429 shares of the company’s stock worth $1,292,000 after purchasing an additional 7,719 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Structure Therapeutics in the third quarter valued at $1,787,000. Finally, Pier Capital LLC raised its holdings in shares of Structure Therapeutics by 32.7% in the third quarter. Pier Capital LLC now owns 134,291 shares of the company’s stock valued at $5,894,000 after buying an additional 33,087 shares during the last quarter. 91.78% of the stock is owned by institutional investors and hedge funds.

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.