Structure Therapeutics (NASDAQ:GPCR) Stock Price Down 6.1% - Here's Why

Structure Therapeutics Inc. (NASDAQ:GPCR - Get Free Report) shares were down 6.1% during mid-day trading on Thursday . The stock traded as low as $20.33 and last traded at $20.11. Approximately 84,052 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 822,430 shares. The stock had previously closed at $21.42.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GPCR shares. Stifel Nicolaus started coverage on shares of Structure Therapeutics in a research report on Wednesday, January 8th. They issued a "buy" rating and a $50.00 target price on the stock. William Blair assumed coverage on shares of Structure Therapeutics in a research report on Friday, February 28th. They issued an "outperform" rating on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $91.00 price target on shares of Structure Therapeutics in a research report on Wednesday, December 18th. Finally, HC Wainwright reissued a "buy" rating and issued a $80.00 price objective on shares of Structure Therapeutics in a research report on Thursday, December 19th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $81.29.

Structure Therapeutics Stock Performance

The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -28.45 and a beta of -2.35. The firm has a fifty day moving average of $25.31 and a 200-day moving average of $32.38.

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Structure Therapeutics (NASDAQ:GPCR - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.01. On average, analysts predict that Structure Therapeutics Inc. will post -0.82 EPS for the current year.

Hedge Funds Weigh In On Structure Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in Structure Therapeutics by 0.7% in the 3rd 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 during the last quarter. Virtus ETF Advisers LLC boosted its position in Structure Therapeutics by 25.5% in the 4th quarter. Virtus ETF Advisers LLC now owns 2,242 shares of the company's stock valued at $61,000 after buying an additional 455 shares during the last quarter. ANTIPODES PARTNERS Ltd boosted its position in Structure Therapeutics by 115.0% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,034 shares of the company's stock valued at $28,000 after buying an additional 553 shares during the last quarter. LPL Financial LLC boosted its position in Structure Therapeutics by 6.0% in the 4th quarter. LPL Financial LLC now owns 11,485 shares of the company's stock valued at $311,000 after buying an additional 646 shares during the last quarter. Finally, Assetmark Inc. boosted its position in Structure Therapeutics by 120.0% in the 3rd quarter. Assetmark Inc. now owns 1,318 shares of the company's stock valued at $58,000 after buying an additional 719 shares during the last quarter. 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.