Fmr LLC Increases Holdings in Structure Therapeutics Inc. (NASDAQ:GPCR)

FMR LLC raised its position in shares of Structure Therapeutics Inc. (NASDAQ:GPCR - Free Report) by 6.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,128,444 shares of the company's stock after buying an additional 383,635 shares during the period. FMR LLC owned about 10.71% of Structure Therapeutics worth $268,977,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GPCR. Sandia Investment Management LP bought a new position in shares of Structure Therapeutics during the second quarter valued at about $39,000. Assetmark Inc. grew its position in shares of Structure Therapeutics by 120.0% in the 3rd quarter. Assetmark Inc. now owns 1,318 shares of the company's stock worth $58,000 after buying an additional 719 shares during the last quarter. Quarry LP purchased a new position in shares of Structure Therapeutics during the second quarter valued at approximately $79,000. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 acquiring an additional 1,420 shares in the last quarter. Finally, Dearborn Partners LLC purchased a new stake in Structure Therapeutics in the third quarter worth $202,000. Hedge funds and other institutional investors own 91.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GPCR. Morgan Stanley started coverage on shares of Structure Therapeutics in a research report on Monday, September 23rd. They set an "overweight" rating and a $118.00 price objective on the stock. JMP Securities reduced their price target on shares of Structure Therapeutics from $91.00 to $86.00 and set a "market outperform" rating on the stock in a research report on Friday, August 9th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $65.00 price target on shares of Structure Therapeutics in a research note on Monday, September 23rd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $86.80.

Structure Therapeutics Trading Up 4.0 %

Structure Therapeutics stock traded up $1.31 on Monday, hitting $34.46. 379,594 shares of the stock traded hands, compared to its average volume of 781,277. Structure Therapeutics Inc. has a 1 year low of $26.61 and a 1 year high of $66.38. The firm has a market cap of $1.97 billion, a P/E ratio of -44.80 and a beta of -3.23. The business's fifty day simple moving average is $38.21 and its 200 day simple moving average is $39.45.

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.