Structure Therapeutics (NASDAQ:GPCR) Trading Down 6.7% - Should You Sell?

Structure Therapeutics Inc. (NASDAQ:GPCR - Get Free Report) shares dropped 6.7% during trading 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.

Wall Street Analysts Forecast Growth

GPCR has been the subject of a number of recent analyst reports. HC Wainwright restated a "buy" rating and set a $80.00 price target on shares of Structure Therapeutics in a research report on Thursday, December 19th. 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. Finally, Stifel Nicolaus initiated coverage on shares of Structure Therapeutics in a research report on Wednesday, January 8th. They set a "buy" rating and a $50.00 price target for the company. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $81.29.

Structure Therapeutics Trading Up 2.1 %

The company has a market capitalization of $1.42 billion, a P/E ratio of -33.51 and a beta of -2.75. The business's fifty day moving average price is $29.02 and its 200-day moving average price is $34.82.

Institutional Trading of Structure Therapeutics

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in Structure Therapeutics by 0.7% in the third quarter. Geode Capital Management LLC now owns 45,225 shares of the company's stock worth $1,985,000 after purchasing an additional 312 shares during the last quarter. ANTIPODES PARTNERS Ltd lifted its stake in Structure Therapeutics by 115.0% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,034 shares of the company's stock worth $28,000 after purchasing an additional 553 shares during the last quarter. LPL Financial LLC lifted its stake in Structure Therapeutics by 6.0% in the fourth quarter. LPL Financial LLC now owns 11,485 shares of the company's stock worth $311,000 after purchasing an additional 646 shares during the last quarter. Assetmark Inc. lifted its stake in 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 purchasing an additional 719 shares during the last quarter. Finally, Money Concepts Capital Corp lifted its stake in Structure Therapeutics by 4.2% in the fourth quarter. Money Concepts Capital Corp now owns 21,031 shares of the company's stock worth $570,000 after purchasing an additional 848 shares during the last quarter. 91.78% of the stock is owned by 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.