Structure Therapeutics (NASDAQ:GPCR) Hits New 52-Week Low – Time to Sell?

Structure Therapeutics Inc. (NASDAQ:GPCR) reached a new 52-week low during trading on Wednesday . The company traded as low as $28.32 and last traded at $28.41, with a volume of 74570 shares trading hands. The stock had previously closed at $31.48.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GPCR. HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of Structure Therapeutics in a research note on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 target price on shares of Structure Therapeutics in a research note on Monday, September 23rd. JMP Securities restated a “market outperform” rating and set a $91.00 price target on shares of Structure Therapeutics in a research note on Wednesday. Finally, Morgan Stanley began coverage on shares of Structure Therapeutics in a research report on Monday, September 23rd. They issued an “overweight” rating and a $118.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $86.50.

Structure Therapeutics Price Performance

The company has a 50-day simple moving average of $35.53 and a 200-day simple moving average of $39.03. The stock has a market cap of $1.72 billion, a PE ratio of -40.50 and a beta of -3.41.

Hedge Funds Weigh In On Structure Therapeutics

A number of large investors have recently made changes to their positions in the stock. Bank of Montreal Can purchased a new position in Structure Therapeutics in the second quarter valued at about $1,064,000. Lighthouse Investment Partners LLC acquired a new position in Structure Therapeutics during the second quarter worth $1,178,000. Vestal Point Capital LP raised its holdings in Structure Therapeutics by 105.4% during the third quarter. Vestal Point Capital LP now owns 1,150,000 shares of the company’s stock worth $50,474,000 after purchasing an additional 590,000 shares during the last quarter. abrdn plc boosted its position in Structure Therapeutics by 132.7% during the third quarter. abrdn plc now owns 217,083 shares of the company’s stock worth $9,528,000 after purchasing an additional 123,789 shares in the last quarter. Finally, Pier Capital LLC grew its holdings in 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 purchasing an additional 33,087 shares during the last quarter. Hedge funds and other 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.