Griffin Asset Management Inc. Acquires New Shares in Structure Therapeutics Inc. (NASDAQ:GPCR)

Griffin Asset Management Inc. bought a new stake in Structure Therapeutics Inc. (NASDAQ:GPCR - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,450 shares of the company's stock, valued at approximately $634,000.

Other institutional investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its position in Structure Therapeutics by 191.9% during the third quarter. Exchange Traded Concepts LLC now owns 41,101 shares of the company's stock worth $1,804,000 after buying an additional 27,019 shares during the last quarter. SG Americas Securities LLC bought a new stake in Structure Therapeutics in the 3rd quarter valued at $367,000. Teachers Retirement System of The State of Kentucky lifted its holdings in Structure Therapeutics by 28.5% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 17,651 shares of the company's stock valued at $693,000 after purchasing an additional 3,918 shares during the last quarter. Perceptive Advisors LLC bought a new position in Structure Therapeutics during the second quarter worth $1,369,000. Finally, Quarry LP acquired a new position in shares of Structure Therapeutics in the second quarter valued at $79,000. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GPCR has been the subject of a number of research reports. Morgan Stanley assumed coverage on shares of Structure Therapeutics in a research note on Monday, September 23rd. They set an "overweight" rating and a $118.00 target price for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $65.00 target price on shares of Structure Therapeutics in a research report on Monday, September 23rd. Finally, JMP Securities dropped their price target on Structure Therapeutics from $91.00 to $86.00 and set a "market outperform" rating for the company in a report on Friday, August 9th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $87.83.

Structure Therapeutics Stock Performance

Shares of GPCR stock traded up $0.63 during trading on Thursday, hitting $39.62. The company had a trading volume of 704,254 shares, compared to its average volume of 787,688. The firm has a market capitalization of $1.85 billion, a P/E ratio of -51.75 and a beta of -3.53. Structure Therapeutics Inc. has a one year low of $26.61 and a one year high of $75.02. The stock's 50-day moving average price is $39.12 and its 200 day moving average price is $39.88.

Structure Therapeutics (NASDAQ:GPCR - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating analysts' consensus estimates of ($0.23) by $0.05. On average, research analysts anticipate that Structure Therapeutics Inc. will post -0.79 earnings per share for the current fiscal year.

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.