Point72 Asset Management L.P. Purchases 820,589 Shares of Structure Therapeutics Inc. (NASDAQ:GPCR)

Point72 Asset Management L.P. grew its holdings in Structure Therapeutics Inc. (NASDAQ:GPCR - Free Report) by 196.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,238,268 shares of the company's stock after purchasing an additional 820,589 shares during the quarter. Point72 Asset Management L.P. owned about 2.16% of Structure Therapeutics worth $54,348,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sandia Investment Management LP bought a new position in Structure Therapeutics during the second quarter worth $39,000. Assetmark Inc. increased its holdings in shares of Structure Therapeutics by 120.0% during the 3rd quarter. Assetmark Inc. now owns 1,318 shares of the company's stock worth $58,000 after purchasing an additional 719 shares during the period. Quarry LP acquired a new position in shares of Structure Therapeutics during the second quarter valued at about $79,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Structure Therapeutics by 60.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company's stock valued at $158,000 after buying an additional 1,420 shares during the last quarter. Finally, Dearborn Partners LLC bought a new stake in shares of Structure Therapeutics in the third quarter valued at about $202,000. 91.78% of the stock is owned by institutional investors and hedge funds.

Structure Therapeutics Stock Down 6.9 %

NASDAQ:GPCR traded down $2.31 during trading hours on Thursday, reaching $31.24. The company had a trading volume of 1,058,537 shares, compared to its average volume of 784,984. The stock has a 50-day moving average of $37.46 and a two-hundred day moving average of $39.32. Structure Therapeutics Inc. has a one year low of $26.61 and a one year high of $63.30. The firm has a market capitalization of $1.79 billion, a PE ratio of -42.22 and a beta of -3.41.

Analyst Ratings Changes

Several brokerages recently issued reports on GPCR. JMP Securities lowered their price target on Structure Therapeutics from $91.00 to $86.00 and set a "market outperform" rating on the stock in a research note on Friday, August 9th. 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. Morgan Stanley began coverage on Structure Therapeutics in a research report on Monday, September 23rd. They issued an "overweight" rating and a $118.00 target price for the company. Finally, HC Wainwright started coverage on shares of Structure Therapeutics in a report on Wednesday. They issued a "buy" rating and a $80.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $85.67.

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.