Bellevue Group AG Acquires 351,626 Shares of Structure Therapeutics Inc. (NASDAQ:GPCR)

Bellevue Group AG grew its holdings in shares of Structure Therapeutics Inc. (NASDAQ:GPCR) by 2,858.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 363,926 shares of the company’s stock after buying an additional 351,626 shares during the period. Bellevue Group AG owned 0.78% of Structure Therapeutics worth $15,598,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of GPCR. Raymond James & Associates bought a new stake in shares of Structure Therapeutics during the 4th quarter valued at $233,000. China Universal Asset Management Co. Ltd. raised its position in Structure Therapeutics by 208.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 4,349 shares of the company’s stock worth $177,000 after buying an additional 2,939 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Structure Therapeutics in the 4th quarter worth about $1,960,000. Federated Hermes Inc. raised its position in Structure Therapeutics by 104.2% in the 4th quarter. Federated Hermes Inc. now owns 2,267,206 shares of the company’s stock worth $92,411,000 after buying an additional 1,157,006 shares during the last quarter. Finally, New York State Common Retirement Fund purchased a new position in Structure Therapeutics in the 4th quarter worth about $277,000. Institutional investors own 91.78% of the company’s stock.

Structure Therapeutics Stock Up 0.9 %

GPCR stock traded up $0.34 during midday trading on Friday, hitting $38.65. The company’s stock had a trading volume of 575,461 shares, compared to its average volume of 983,695. Structure Therapeutics Inc. has a 12 month low of $25.57 and a 12 month high of $75.02. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -50.19 and a beta of -3.58. The company has a 50 day moving average of $42.19 and a two-hundred day moving average of $41.27.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on GPCR shares. JPMorgan Chase & Co. began coverage on Structure Therapeutics in a research report on Tuesday, May 21st. They issued an “overweight” rating and a $65.00 target price for the company. 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 note on Friday, June 7th. JMP Securities reiterated a “market outperform” rating and set a $91.00 price objective on shares of Structure Therapeutics in a research note on Friday, May 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price objective on shares of Structure Therapeutics in a research note on Monday, July 1st. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus 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.