Structure Therapeutics (NASDAQ:GPCR) Trading Down 3.4%

Structure Therapeutics Inc. (NASDAQ:GPCR)’s share price was down 3.4% during trading on Wednesday . The stock traded as low as $40.66 and last traded at $40.72. Approximately 61,403 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 605,746 shares. The stock had previously closed at $42.17.

Analyst Upgrades and Downgrades

Separately, Lifesci Capital reissued an “outperform” rating on shares of Structure Therapeutics in a report on Tuesday, February 27th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $89.17.

Structure Therapeutics Trading Down 0.1 %

The stock’s 50-day simple moving average is $41.86 and its 200-day simple moving average is $48.08.

Hedge Funds Weigh In On Structure Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. lifted its position in shares of Structure Therapeutics by 835.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,799,923 shares of the company’s stock valued at $90,752,000 after acquiring an additional 1,607,525 shares during the period. Wellington Management Group LLP lifted its position in Structure Therapeutics by 312.6% during the third quarter. Wellington Management Group LLP now owns 867,579 shares of the company’s stock worth $43,743,000 after purchasing an additional 657,310 shares during the period. FMR LLC grew its stake in Structure Therapeutics by 28.5% during the third quarter. FMR LLC now owns 1,590,335 shares of the company’s stock worth $80,185,000 after buying an additional 352,600 shares in the last quarter. TD Asset Management Inc increased its holdings in Structure Therapeutics by 109.3% in the 3rd quarter. TD Asset Management Inc now owns 152,176 shares of the company’s stock valued at $7,673,000 after buying an additional 79,467 shares during the period. Finally, Casdin Capital LLC raised its position in shares of Structure Therapeutics by 47.3% in the 2nd quarter. Casdin Capital LLC now owns 997,017 shares of the company’s stock valued at $41,446,000 after buying an additional 320,000 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.