Readystate Asset Management LP Buys 58,576 Shares of Structure Therapeutics Inc. Sponsored ADR $GPCR

Readystate Asset Management LP grew its stake in Structure Therapeutics Inc. Sponsored ADR (NASDAQ:GPCR) by 32.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 237,188 shares of the company’s stock after purchasing an additional 58,576 shares during the quarter. Readystate Asset Management LP’s holdings in Structure Therapeutics were worth $6,641,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. GSA Capital Partners LLP purchased a new position in shares of Structure Therapeutics during the third quarter valued at about $277,000. JPMorgan Chase & Co. boosted its position in Structure Therapeutics by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 58,148 shares of the company’s stock valued at $1,628,000 after acquiring an additional 15,706 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Structure Therapeutics by 9.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,828 shares of the company’s stock worth $135,000 after acquiring an additional 413 shares during the period. Aberdeen Group plc raised its position in shares of Structure Therapeutics by 46.1% in the 3rd quarter. Aberdeen Group plc now owns 586,869 shares of the company’s stock worth $16,432,000 after acquiring an additional 185,245 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Structure Therapeutics by 14.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 12,220 shares of the company’s stock valued at $342,000 after purchasing an additional 1,544 shares during the period. Institutional investors own 91.78% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citizens Jmp upped their price target on Structure Therapeutics from $87.00 to $120.00 and gave the stock a “market outperform” rating in a research note on Friday, December 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Structure Therapeutics in a report on Thursday, January 22nd. Morgan Stanley upped their target price on shares of Structure Therapeutics from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Jefferies Financial Group set a $125.00 price target on shares of Structure Therapeutics and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, Piper Sandler reissued an “overweight” rating on shares of Structure Therapeutics in a research note on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Structure Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $106.20.

Structure Therapeutics Price Performance

Shares of Structure Therapeutics stock opened at $71.41 on Wednesday. Structure Therapeutics Inc. Sponsored ADR has a 1 year low of $13.22 and a 1 year high of $94.90. The firm’s 50-day moving average is $75.10 and its 200 day moving average is $44.15. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of -58.53 and a beta of -2.06.

Structure Therapeutics Profile

Structure Therapeutics (NASDAQ:GPCR) is a clinical‐stage biotechnology company focused on the discovery and development of oral small‐molecule therapies that target G protein‐coupled receptors (GPCRs). Leveraging advances in structural biology, computational chemistry and medicinal chemistry, the company’s scientific platform is designed to optimize binding interactions and pharmacokinetic properties, with the goal of delivering innovative treatments for metabolic and inflammatory disorders.

The company’s pipeline comprises multiple programs in various stages of preclinical and clinical development.