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

Shares of Structure Therapeutics Inc. (NASDAQ:GPCR - Get Free Report) dropped 6.1% on Thursday . The company traded as low as $20.33 and last traded at $20.11. Approximately 84,052 shares were traded during 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 brokerages have recently issued reports on GPCR. Stifel Nicolaus initiated coverage on Structure Therapeutics in a research note on Wednesday, January 8th. They issued a "buy" rating and a $50.00 target price for the company. William Blair initiated coverage on Structure Therapeutics in a research report on Friday, February 28th. They set an "outperform" rating for the company. HC Wainwright reiterated a "buy" rating and issued a $80.00 price target on shares of Structure Therapeutics in a research note on Thursday, December 19th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $91.00 target price on shares of Structure Therapeutics in a research note on Wednesday, December 18th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $81.29.

Structure Therapeutics Price Performance

The business's 50 day moving average price is $25.31 and its 200 day moving average price is $32.33. The stock has a market capitalization of $1.26 billion, a P/E ratio of -29.63 and a beta of -2.37.

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Structure Therapeutics (NASDAQ:GPCR - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.22) earnings per share for the quarter, beating analysts' consensus estimates of ($0.23) by $0.01. As a group, analysts forecast that Structure Therapeutics Inc. will post -0.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Structure Therapeutics during the 4th quarter valued at about $3,091,000. GF Fund Management CO. LTD. purchased a new stake in Structure Therapeutics during the fourth quarter valued at approximately $34,000. Woodline Partners LP raised its position in Structure Therapeutics by 0.7% in the fourth quarter. Woodline Partners LP now owns 333,901 shares of the company's stock worth $9,055,000 after acquiring an additional 2,328 shares during the period. Vestal Point Capital LP boosted its stake in shares of Structure Therapeutics by 50.0% during the 4th quarter. Vestal Point Capital LP now owns 1,725,000 shares of the company's stock worth $46,782,000 after acquiring an additional 575,000 shares during the last quarter. Finally, Twinbeech Capital LP grew its position in shares of Structure Therapeutics by 34.3% during the 4th quarter. Twinbeech Capital LP now owns 28,268 shares of the company's stock valued at $767,000 after acquiring an additional 7,220 shares during the period. 91.78% of the stock is owned by hedge funds and other institutional investors.

Structure Therapeutics Company Profile

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.