Structure Therapeutics (NASDAQ:GPCR) Stock Price Down 5%

Structure Therapeutics Inc. (NASDAQ:GPCR)’s share price traded down 5% during mid-day trading on Monday . The company traded as low as $38.50 and last traded at $38.79. 110,941 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 787,334 shares. The stock had previously closed at $40.84.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of Structure Therapeutics in a report on Tuesday, May 21st. They issued an “overweight” rating and a $65.00 price target on the stock. BMO Capital Markets raised their price target on shares of Structure Therapeutics from $83.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, June 7th. 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Structure Therapeutics in a research report on Monday. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $84.63.

Structure Therapeutics Stock Performance

The company’s 50-day moving average price is $38.09 and its 200 day moving average price is $39.64. The stock has a market capitalization of $1.78 billion, a PE ratio of -49.69 and a beta of -3.52.

Structure Therapeutics (NASDAQ:GPCR) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.05. Analysts expect that Structure Therapeutics Inc. will post -0.86 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in Structure Therapeutics by 404.0% during the 4th quarter. Wellington Management Group LLP now owns 4,372,326 shares of the company’s stock valued at $178,216,000 after acquiring an additional 3,504,747 shares during the period. Driehaus Capital Management LLC lifted its position in Structure Therapeutics by 3.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,577,136 shares of the company’s stock valued at $101,204,000 after acquiring an additional 86,833 shares during the period. Federated Hermes Inc. lifted its position in Structure Therapeutics by 6.6% during the 2nd 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. Avoro Capital Advisors LLC lifted its position in Structure Therapeutics by 133.3% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,333,333 shares of the company’s stock valued at $95,107,000 after acquiring an additional 1,333,333 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Structure Therapeutics by 34.5% during the 1st quarter. Janus Henderson Group PLC now owns 2,076,700 shares of the company’s stock valued at $88,994,000 after acquiring an additional 532,284 shares during the period. 91.78% of the stock is owned by hedge funds and other institutional investors.

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.