Allspring Global Investments Holdings LLC Cuts Stock Holdings in Structure Therapeutics Inc. (NASDAQ:GPCR)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Structure Therapeutics Inc. (NASDAQ:GPCR) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,269 shares of the company’s stock after selling 816 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Structure Therapeutics were worth $2,026,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. TrueMark Investments LLC grew its holdings in shares of Structure Therapeutics by 13.5% during the first quarter. TrueMark Investments LLC now owns 29,884 shares of the company’s stock worth $1,281,000 after purchasing an additional 3,562 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Structure Therapeutics by 404.0% during the fourth quarter. Wellington Management Group LLP now owns 4,372,326 shares of the company’s stock worth $178,216,000 after purchasing an additional 3,504,747 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Structure Therapeutics by 498.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 427,735 shares of the company’s stock worth $17,434,000 after purchasing an additional 356,302 shares in the last quarter. Octagon Capital Advisors LP purchased a new position in shares of Structure Therapeutics during the fourth quarter worth about $16,875,000. Finally, Parkman Healthcare Partners LLC boosted its stake in Structure Therapeutics by 28.9% in the fourth quarter. Parkman Healthcare Partners LLC now owns 38,678 shares of the company’s stock worth $1,577,000 after buying an additional 8,678 shares in the last quarter. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Structure Therapeutics Stock Performance

Structure Therapeutics stock traded down $1.13 on Tuesday, hitting $38.87. 100,357 shares of the stock traded hands, compared to its average volume of 802,181. Structure Therapeutics Inc. has a 1 year low of $25.57 and a 1 year high of $75.02. The business’s fifty day simple moving average is $41.59 and its 200 day simple moving average is $41.51.

Structure Therapeutics (NASDAQ:GPCR) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.02. On average, equities analysts forecast that Structure Therapeutics Inc. will post -0.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GPCR shares. JPMorgan Chase & Co. started coverage on Structure Therapeutics in a research note on Tuesday, May 21st. They issued an “overweight” rating and a $65.00 target price for the company. JMP Securities reiterated a “market outperform” rating and issued a $91.00 price objective on shares of Structure Therapeutics in a research report on Friday, May 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price objective on shares of Structure Therapeutics in a research report on Monday. Finally, BMO Capital Markets boosted their price objective on Structure Therapeutics from $83.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Structure Therapeutics currently has a consensus rating of “Buy” and an average price target of $85.25.

Structure Therapeutics 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.