M&T Bank Corp Cuts Stake in Structure Therapeutics Inc. (NASDAQ:GPCR)

M&T Bank Corp cut its holdings in shares of Structure Therapeutics Inc. (NASDAQ:GPCR) by 50.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,055 shares of the company’s stock after selling 9,063 shares during the quarter. M&T Bank Corp’s holdings in Structure Therapeutics were worth $397,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP raised its position in Structure Therapeutics by 2.9% in the 3rd quarter. Wellington Management Group LLP now owns 7,769,771 shares of the company’s stock worth $341,015,000 after purchasing an additional 221,851 shares during the period. FMR LLC grew its stake in shares of Structure Therapeutics by 6.7% during the third quarter. FMR LLC now owns 6,128,444 shares of the company’s stock valued at $268,977,000 after buying an additional 383,635 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Structure Therapeutics by 18.0% in the third quarter. Janus Henderson Group PLC now owns 3,956,878 shares of the company’s stock worth $173,623,000 after buying an additional 602,609 shares during the period. Driehaus Capital Management LLC lifted its stake in shares of Structure Therapeutics by 3.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,577,136 shares of the company’s stock valued at $101,204,000 after acquiring an additional 86,833 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in Structure Therapeutics by 6.6% during the 2nd quarter. Federated Hermes Inc. now owns 2,407,206 shares of the company’s stock valued at $94,531,000 after acquiring an additional 150,000 shares during the period. 91.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Morgan Stanley assumed coverage on Structure Therapeutics in a research report on Monday, September 23rd. They issued an “overweight” rating and a $118.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price target on shares of Structure Therapeutics in a report on Monday, September 23rd. JMP Securities reissued a “market outperform” rating and issued a $91.00 price target on shares of Structure Therapeutics in a report on Wednesday. Finally, HC Wainwright began coverage on shares of Structure Therapeutics in a research note on Wednesday, December 4th. They set a “buy” rating and a $80.00 price objective for the company. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Structure Therapeutics presently has an average rating of “Buy” and an average target price of $86.50.

Structure Therapeutics Trading Down 11.4 %

Shares of NASDAQ GPCR opened at $27.90 on Thursday. The firm has a fifty day simple moving average of $35.71 and a two-hundred day simple moving average of $39.09. Structure Therapeutics Inc. has a 12 month low of $26.23 and a 12 month high of $62.74. The firm has a market capitalization of $1.60 billion, a PE ratio of -37.70 and a beta of -3.41.

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.