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

Structure Therapeutics Inc. (NASDAQ:GPCR - Get Free Report) traded down 4.6% during mid-day trading on Tuesday . The stock traded as low as $23.56 and last traded at $23.42. 114,349 shares were traded during trading, a decline of 88% from the average session volume of 929,190 shares. The stock had previously closed at $24.55.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. William Blair assumed coverage on Structure Therapeutics in a research report on Friday, February 28th. They set an "outperform" rating on the stock. HC Wainwright dropped their target price on Structure Therapeutics from $80.00 to $75.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Finally, Citigroup assumed coverage on Structure Therapeutics in a research report on Friday, May 2nd. They set a "buy" rating and a $60.00 target price on the stock. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Structure Therapeutics presently has a consensus rating of "Buy" and an average price target of $79.86.

Structure Therapeutics Stock Performance

The firm has a fifty day moving average price of $21.63 and a 200 day moving average price of $25.72. The stock has a market cap of $1.28 billion, a PE ratio of -30.18 and a beta of -1.69.

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

Hedge Funds Weigh In On Structure Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GPCR. Deep Track Capital LP raised its stake in Structure Therapeutics by 129.4% in the 4th quarter. Deep Track Capital LP now owns 2,800,000 shares of the company's stock worth $75,936,000 after acquiring an additional 1,579,492 shares during the last quarter. Vestal Point Capital LP raised 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 valued at $46,782,000 after buying an additional 575,000 shares during the last quarter. Boxer Capital Management LLC purchased a new position in shares of Structure Therapeutics during the 4th quarter valued at about $13,560,000. Marshall Wace LLP raised its stake in shares of Structure Therapeutics by 339.6% during the 4th quarter. Marshall Wace LLP now owns 583,207 shares of the company's stock valued at $15,817,000 after buying an additional 450,531 shares during the last quarter. Finally, Foresite Capital Management VI LLC purchased a new position in shares of Structure Therapeutics during the 4th quarter valued at about $11,390,000. Hedge funds and other institutional investors own 91.78% of the company's stock.

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.