abrdn plc Decreases Holdings in Structure Therapeutics Inc. (NASDAQ:GPCR)

abrdn plc lessened its position in shares of Structure Therapeutics Inc. (NASDAQ:GPCR - Free Report) by 21.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 171,388 shares of the company's stock after selling 45,695 shares during the quarter. abrdn plc owned approximately 0.30% of Structure Therapeutics worth $4,648,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Structure Therapeutics during the 3rd quarter worth about $367,000. Exchange Traded Concepts LLC raised its position in shares of Structure Therapeutics by 191.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 41,101 shares of the company's stock valued at $1,804,000 after acquiring an additional 27,019 shares in the last quarter. Griffin Asset Management Inc. acquired a new stake in shares of Structure Therapeutics during the 3rd quarter valued at approximately $634,000. Bank Pictet & Cie Europe AG bought a new position in shares of Structure Therapeutics in the third quarter worth $206,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Structure Therapeutics by 60.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company's stock worth $158,000 after purchasing an additional 1,420 shares in the last quarter. Institutional investors and hedge funds own 91.78% of the company's stock.

Structure Therapeutics Stock Performance

Shares of NASDAQ GPCR traded down $0.47 during trading hours on Wednesday, reaching $24.33. 502,852 shares of the stock were exchanged, compared to its average volume of 826,403. The stock's fifty day simple moving average is $28.85 and its 200 day simple moving average is $34.72. Structure Therapeutics Inc. has a 52 week low of $23.50 and a 52 week high of $62.74. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -32.88 and a beta of -2.75.

Analysts Set New Price Targets

GPCR has been the subject of a number of recent research reports. JMP Securities reaffirmed a "market outperform" rating and set a $91.00 price target on shares of Structure Therapeutics in a research note on Wednesday, December 18th. HC Wainwright reaffirmed a "buy" rating and issued a $80.00 target price on shares of Structure Therapeutics in a report on Thursday, December 19th. Finally, Stifel Nicolaus initiated coverage on Structure Therapeutics in a report on Wednesday, January 8th. They issued a "buy" rating and a $50.00 target price on the stock. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Structure Therapeutics has a consensus rating of "Buy" and an average target price of $81.29.

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.