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

Shares of Structure Therapeutics Inc. (NASDAQ:GPCR) traded down 4.1% on Thursday . The stock traded as low as $31.37 and last traded at $31.38. 75,580 shares traded 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 Analyst Weigh In

Several equities analysts recently commented on GPCR shares. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 target price on shares of Structure Therapeutics in a research report on Monday, September 23rd. Morgan Stanley began coverage on shares of Structure Therapeutics in a research note on Monday, September 23rd. They issued an “overweight” rating and a $118.00 target price on the stock. Finally, JMP Securities dropped their target price on shares of Structure Therapeutics from $91.00 to $86.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $86.80.

Structure Therapeutics Stock Up 11.0 %

The company has a market cap of $1.91 billion, a P/E ratio of -45.15 and a beta of -3.23. The firm has a fifty day moving average price of $38.79 and a 200 day moving average price of $39.54.

Institutional Investors Weigh In On Structure Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in shares of Structure Therapeutics by 2.9% during the third quarter. Wellington Management Group LLP now owns 7,769,771 shares of the company’s stock worth $341,015,000 after purchasing an additional 221,851 shares in the last quarter. FMR LLC boosted its position in Structure Therapeutics by 6.7% in the 3rd quarter. FMR LLC now owns 6,128,444 shares of the company’s stock valued at $268,977,000 after buying an additional 383,635 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Structure Therapeutics by 18.0% in the 3rd quarter. Janus Henderson Group PLC now owns 3,956,878 shares of the company’s stock valued at $173,623,000 after buying an additional 602,609 shares during the period. Driehaus Capital Management LLC raised its position in shares of Structure Therapeutics by 3.5% during the second quarter. Driehaus Capital Management LLC now owns 2,577,136 shares of the company’s stock worth $101,204,000 after acquiring an additional 86,833 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Structure Therapeutics by 6.6% during the second quarter. Federated Hermes Inc. now owns 2,407,206 shares of the company’s stock valued at $94,531,000 after acquiring an additional 150,000 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.