First Light Asset Management LLC Buys 441,534 Shares of Structure Therapeutics Inc. (NASDAQ:GPCR)

First Light Asset Management LLC raised its stake in shares of Structure Therapeutics Inc. (NASDAQ:GPCR) by 296.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 590,647 shares of the company’s stock after purchasing an additional 441,534 shares during the period. Structure Therapeutics accounts for about 2.0% of First Light Asset Management LLC’s investment portfolio, making the stock its 25th biggest holding. First Light Asset Management LLC owned approximately 1.27% of Structure Therapeutics worth $23,195,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP increased its holdings in Structure Therapeutics by 404.0% in the 4th quarter. Wellington Management Group LLP now owns 4,372,326 shares of the company’s stock worth $178,216,000 after acquiring an additional 3,504,747 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Structure Therapeutics by 6.6% in the second quarter. Federated Hermes Inc. now owns 2,407,206 shares of the company’s stock worth $94,531,000 after purchasing an additional 150,000 shares in the last quarter. Avoro Capital Advisors LLC raised its position in shares of Structure Therapeutics by 133.3% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,333,333 shares of the company’s stock valued at $95,107,000 after purchasing an additional 1,333,333 shares during the period. Janus Henderson Group PLC boosted its holdings in Structure Therapeutics by 34.5% in the 1st quarter. Janus Henderson Group PLC now owns 2,076,700 shares of the company’s stock worth $88,994,000 after buying an additional 532,284 shares during the period. Finally, Capital Research Global Investors raised its holdings in Structure Therapeutics by 56.9% during the first quarter. Capital Research Global Investors now owns 1,527,483 shares of the company’s stock valued at $65,468,000 after acquiring an additional 553,948 shares during the period. Institutional investors own 91.78% of the company’s stock.

Structure Therapeutics Trading Up 1.0 %

GPCR opened at $42.35 on Tuesday. Structure Therapeutics Inc. has a 12 month low of $26.61 and a 12 month high of $75.02. The stock has a 50-day moving average of $37.93 and a 200 day moving average of $39.66. The firm has a market cap of $1.97 billion, a P/E ratio of -55.00 and a beta of -3.52.

Structure Therapeutics (NASDAQ:GPCR) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.05. On average, research analysts forecast that Structure Therapeutics Inc. will post -0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GPCR. JMP Securities decreased their target price 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 reiterated an “overweight” rating and issued a $65.00 price target on shares of Structure Therapeutics in a report on Monday. BMO Capital Markets increased their price objective on shares of Structure Therapeutics from $83.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Finally, Morgan Stanley began coverage on Structure Therapeutics in a research report on Monday. They set an “overweight” rating and a $118.00 price objective for the company. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Structure Therapeutics has an average rating of “Buy” and a consensus target price of $88.33.

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.