Franklin Resources Inc. Boosts Stake in Structure Therapeutics Inc. (NASDAQ:GPCR)

Franklin Resources Inc. grew its position in Structure Therapeutics Inc. (NASDAQ:GPCR - Free Report) by 9.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 706,106 shares of the company's stock after purchasing an additional 60,397 shares during the quarter. Franklin Resources Inc. owned approximately 1.23% of Structure Therapeutics worth $30,991,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GPCR. Principal Financial Group Inc. acquired a new stake in Structure Therapeutics in the second quarter valued at $6,489,000. Natixis Advisors LLC raised its position in shares of Structure Therapeutics by 29.4% during the 2nd quarter. Natixis Advisors LLC now owns 19,005 shares of the company's stock worth $746,000 after acquiring an additional 4,321 shares in the last quarter. Gilbert & Cook Inc. purchased a new stake in Structure Therapeutics during the second quarter worth approximately $229,000. TD Asset Management Inc boosted its holdings in Structure Therapeutics by 47.9% in the second quarter. TD Asset Management Inc now owns 211,590 shares of the company's stock valued at $8,309,000 after purchasing an additional 68,490 shares in the last quarter. Finally, Pier Capital LLC increased its stake in Structure Therapeutics by 3.7% in the second quarter. Pier Capital LLC now owns 101,204 shares of the company's stock valued at $3,974,000 after purchasing an additional 3,647 shares during the last quarter. 91.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GPCR has been the subject of several recent analyst reports. Cantor Fitzgerald restated an "overweight" rating and set a $65.00 price objective on shares of Structure Therapeutics in a research report on Monday, September 23rd. JMP Securities reissued a "market outperform" rating and issued a $91.00 price target on shares of Structure Therapeutics in a research report on Wednesday. HC Wainwright restated a "buy" rating and issued a $80.00 price objective on shares of Structure Therapeutics in a research note on Thursday. Finally, Morgan Stanley initiated coverage on Structure Therapeutics in a research report on Monday, September 23rd. They set an "overweight" rating and a $118.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Structure Therapeutics has a consensus rating of "Buy" and a consensus target price of $86.50.

Structure Therapeutics Price Performance

Shares of NASDAQ:GPCR traded up $2.07 on Thursday, reaching $29.97. The company's stock had a trading volume of 1,744,421 shares, compared to its average volume of 798,834. Structure Therapeutics Inc. has a 52-week low of $26.23 and a 52-week high of $62.74. The stock has a market capitalization of $1.72 billion, a P/E ratio of -40.50 and a beta of -3.41. The stock's 50-day moving average is $35.71 and its two-hundred day moving average is $39.09.

Structure Therapeutics Company Profile

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.