Structure Therapeutics (NASDAQ:GPCR) Shares Down 6.7% – Here’s What Happened

Structure Therapeutics Inc. (NASDAQ:GPCR) shares were down 6.7% on Friday . The company traded as low as $28.45 and last traded at $28.00. Approximately 560,125 shares traded hands during trading, a decline of 28% from the average daily volume of 778,340 shares. The stock had previously closed at $30.02.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GPCR shares. Stifel Nicolaus began coverage on shares of Structure Therapeutics in a research note on Wednesday, January 8th. They issued a “buy” rating and a $50.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Structure Therapeutics in a research note on Thursday, December 19th. Finally, JMP Securities restated a “market outperform” rating and set a $91.00 price target on shares of Structure Therapeutics in a research report on Wednesday, December 18th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $81.29.

Structure Therapeutics Stock Performance

The company has a market cap of $1.57 billion, a P/E ratio of -37.03 and a beta of -2.76. The stock has a 50-day moving average of $29.32 and a two-hundred day moving average of $34.99.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GPCR. Geode Capital Management LLC increased its holdings in Structure Therapeutics by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 45,225 shares of the company’s stock worth $1,985,000 after buying an additional 312 shares in the last quarter. Assetmark Inc. grew its stake in shares of Structure Therapeutics by 120.0% in the third quarter. Assetmark Inc. now owns 1,318 shares of the company’s stock worth $58,000 after acquiring an additional 719 shares during the period. Money Concepts Capital Corp raised its holdings in shares of Structure Therapeutics by 4.2% during the fourth quarter. Money Concepts Capital Corp now owns 21,031 shares of the company’s stock valued at $570,000 after purchasing an additional 848 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Structure Therapeutics by 29.8% during the fourth quarter. Jones Financial Companies Lllp now owns 4,228 shares of the company’s stock valued at $115,000 after purchasing an additional 971 shares during the period. Finally, GAMMA Investing LLC grew its position in Structure Therapeutics by 4,155.6% in the 4th quarter. GAMMA Investing LLC now owns 1,149 shares of the company’s stock worth $31,000 after purchasing an additional 1,122 shares during the period. 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.