Cinctive Capital Management LP Has $1.41 Million Stock Holdings in Structure Therapeutics Inc. (NASDAQ:GPCR)

Cinctive Capital Management LP boosted its stake in shares of Structure Therapeutics Inc. (NASDAQ:GPCR - Free Report) by 111.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 32,094 shares of the company's stock after purchasing an additional 16,883 shares during the period. Cinctive Capital Management LP owned approximately 0.06% of Structure Therapeutics worth $1,409,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GPCR. Teachers Retirement System of The State of Kentucky raised its position in shares of Structure Therapeutics by 17.8% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 13,733 shares of the company's stock valued at $589,000 after buying an additional 2,077 shares during the period. Mather Group LLC. purchased a new stake in shares of Structure Therapeutics in the second quarter valued at about $214,000. Principal Financial Group Inc. purchased a new stake in shares of Structure Therapeutics in the second quarter valued at about $6,489,000. Natixis Advisors LLC raised its holdings in Structure Therapeutics by 29.4% during the second quarter. Natixis Advisors LLC now owns 19,005 shares of the company's stock worth $746,000 after purchasing an additional 4,321 shares in the last quarter. Finally, Gilbert & Cook Inc. purchased a new position in Structure Therapeutics during the second quarter worth about $229,000. 91.78% of the stock is owned by institutional investors and hedge funds.

Structure Therapeutics Stock Performance

NASDAQ GPCR traded up $0.30 during trading hours on Wednesday, hitting $33.55. 1,099,198 shares of the company traded hands, compared to its average volume of 783,816. Structure Therapeutics Inc. has a twelve month low of $26.61 and a twelve month high of $64.45. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -45.34 and a beta of -3.41. The business's 50-day moving average is $37.66 and its 200-day moving average is $39.38.

Analyst Ratings Changes

GPCR has been the topic of a number of analyst reports. JMP Securities decreased their target price 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. Cantor Fitzgerald restated an "overweight" rating and set a $65.00 price objective on shares of Structure Therapeutics in a research note on Monday, September 23rd. Morgan Stanley assumed coverage on Structure Therapeutics in a report on Monday, September 23rd. They set an "overweight" rating and a $118.00 price target on the stock. Finally, HC Wainwright started coverage on Structure Therapeutics in a report on Wednesday. They set a "buy" rating and a $80.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, Structure Therapeutics has a consensus rating of "Buy" and an average target price 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.