Structure Therapeutics (NASDAQ:GPCR) Stock Price Down 4.6% – Here’s What Happened

Structure Therapeutics Inc. (NASDAQ:GPCR)’s share price was down 4.6% during mid-day trading on Tuesday . The stock traded as low as $23.56 and last traded at $23.42. Approximately 114,349 shares changed hands during trading, a decline of 88% from the average daily volume of 929,190 shares. The stock had previously closed at $24.55.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GPCR shares. Citigroup started coverage on shares of Structure Therapeutics in a report on Friday, May 2nd. They issued a “buy” rating and a $60.00 price objective on the stock. HC Wainwright reduced their target price on shares of Structure Therapeutics from $80.00 to $75.00 and set a “buy” rating for the company in a report on Monday, May 12th. Finally, William Blair began coverage on Structure Therapeutics in a report on Friday, February 28th. They set an “outperform” rating for the company. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $79.86.

Structure Therapeutics Stock Performance

The stock’s fifty day simple moving average is $21.57 and its 200-day simple moving average is $25.76. The stock has a market cap of $1.36 billion, a P/E ratio of -32.23 and a beta of -1.69.

Structure Therapeutics (NASDAQ:GPCR) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.03). As a group, equities research analysts forecast that Structure Therapeutics Inc. will post -0.82 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Virtus ETF Advisers LLC increased its holdings 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 period. Geode Capital Management LLC increased its stake in Structure Therapeutics by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 45,705 shares of the company’s stock valued at $1,240,000 after acquiring an additional 480 shares during the last quarter. ANTIPODES PARTNERS Ltd raised its position in Structure Therapeutics by 115.0% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,034 shares of the company’s stock valued at $28,000 after purchasing an additional 553 shares in the last quarter. LPL Financial LLC raised its position in Structure Therapeutics by 6.0% during the fourth quarter. LPL Financial LLC now owns 11,485 shares of the company’s stock valued at $311,000 after purchasing an additional 646 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Structure Therapeutics by 12.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 7,403 shares of the company’s stock worth $201,000 after purchasing an additional 843 shares during the last quarter. Institutional investors own 91.78% of the company’s stock.

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.