Structure Therapeutics (NASDAQ:GPCR) Shares Down 5.4% – Here’s What Happened

Structure Therapeutics Inc. Sponsored ADR (NASDAQ:GPCR) shares dropped 5.4% during mid-day trading on Wednesday . The company traded as low as $36.82 and last traded at $36.8530. 313,859 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 896,918 shares. The stock had previously closed at $38.95.

Wall Street Analysts Forecast Growth

GPCR has been the topic of several recent analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of Structure Therapeutics in a research note on Friday, August 7th. Citizens Jmp reissued a “market outperform” rating and set a $110.00 price objective on shares of Structure Therapeutics in a report on Wednesday, September 9th. Canaccord Genuity Group set a $111.00 target price on shares of Structure Therapeutics in a research note on Friday, August 7th. Wall Street Zen raised shares of Structure Therapeutics from a “strong sell” rating to a “sell” rating in a report on Monday, August 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Structure Therapeutics in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $110.91.

Structure Therapeutics Stock Performance

The company has a 50-day simple moving average of $48.15 and a 200-day simple moving average of $47.63. The stock has a market cap of $2.44 billion, a P/E ratio of -35.10 and a beta of -1.45.

Structure Therapeutics (NASDAQ:GPCR) last announced its earnings results on Thursday, August 6th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.10). As a group, sell-side analysts expect that Structure Therapeutics Inc. Sponsored ADR will post -1.87 earnings per share for the current fiscal year.

Institutional Trading of Structure Therapeutics

Several hedge funds have recently modified their holdings of the stock. Orbimed Advisors LLC lifted its holdings in Structure Therapeutics by 27.0% during the 1st quarter. Orbimed Advisors LLC now owns 1,475,403 shares of the company’s stock worth $71,114,000 after buying an additional 313,600 shares in the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of Structure Therapeutics in the 2nd quarter valued at $1,041,000. SEB Asset Management AB bought a new stake in shares of Structure Therapeutics during the first quarter worth $11,811,000. Principal Financial Group Inc. lifted its stake in shares of Structure Therapeutics by 36.6% during the first quarter. Principal Financial Group Inc. now owns 1,753,764 shares of the company’s stock valued at $84,531,000 after acquiring an additional 469,554 shares during the period. Finally, B Group Inc. acquired a new position in shares of Structure Therapeutics during the fourth quarter valued at $6,260,000. 91.78% of the stock is owned by institutional investors.

About Structure Therapeutics

Structure Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing oral medicines for chronic diseases. The company uses its structure-based drug discovery platform to target G protein-coupled receptors (GPCRs), a large class of proteins involved in metabolic, cardiovascular and pulmonary functions.

Its lead program is GSBR-1290, also known as aleniglipron, an oral small-molecule glucagon-like peptide-1 (GLP-1) receptor agonist being developed for conditions including obesity and type 2 diabetes.