Structure Therapeutics (NASDAQ:GPCR) Stock Price Down 7.3% - Time to Sell?

Shares of Structure Therapeutics Inc. Sponsored ADR (NASDAQ:GPCR - Get Free Report) fell 7.3% during mid-day trading on Monday . The company traded as low as $18.78 and last traded at $18.88. 438,978 shares were traded during trading, a decline of 50% from the average session volume of 871,433 shares. The stock had previously closed at $20.37.

Analysts Set New Price Targets

GPCR has been the topic of several research analyst reports. HC Wainwright lowered their price target 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. JMP Securities restated a "market outperform" rating and issued a $89.00 price objective on shares of Structure Therapeutics in a research note on Monday, June 23rd. Citigroup started coverage on shares of Structure Therapeutics in a research note on Friday, May 2nd. They set a "buy" rating and a $60.00 target price for the company. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $65.00 price target on shares of Structure Therapeutics in a report on Monday, June 23rd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $76.17.

Structure Therapeutics Stock Down 1.0%

The firm has a 50-day moving average of $22.75 and a 200 day moving average of $23.26. The stock has a market capitalization of $1.08 billion, a P/E ratio of -21.72 and a beta of -1.87.

Structure Therapeutics (NASDAQ:GPCR - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.03). Analysts predict that Structure Therapeutics Inc. Sponsored ADR will post -0.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Structure Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC raised its stake in Structure Therapeutics by 58.6% during the second quarter. Exchange Traded Concepts LLC now owns 61,732 shares of the company's stock worth $1,280,000 after acquiring an additional 22,809 shares in the last quarter. Parallel Advisors LLC bought a new stake in shares of Structure Therapeutics in the 2nd quarter worth about $171,000. Zimmer Partners LP increased its position in shares of Structure Therapeutics by 77.1% during the 1st quarter. Zimmer Partners LP now owns 100,776 shares of the company's stock worth $1,744,000 after purchasing an additional 43,876 shares in the last quarter. Vestal Point Capital LP lifted its holdings in Structure Therapeutics by 3.7% during the 1st quarter. Vestal Point Capital LP now owns 1,788,990 shares of the company's stock valued at $30,967,000 after purchasing an additional 63,990 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in Structure Therapeutics by 3,326.0% in the first quarter. Cubist Systematic Strategies LLC now owns 54,816 shares of the company's stock valued at $949,000 after buying an additional 53,216 shares in the last quarter. 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.