Principal Financial Group Inc. Acquires 380,115 Shares of Structure Therapeutics Inc. (NASDAQ:GPCR)

Principal Financial Group Inc. increased its holdings in shares of Structure Therapeutics Inc. (NASDAQ:GPCR) by 230.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 545,359 shares of the company’s stock after buying an additional 380,115 shares during the period. Principal Financial Group Inc.’s holdings in Structure Therapeutics were worth $23,936,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Sandia Investment Management LP bought a new stake in shares of Structure Therapeutics in the 2nd quarter valued at about $39,000. Assetmark Inc. raised its holdings in shares of Structure Therapeutics by 120.0% in the third quarter. Assetmark Inc. now owns 1,318 shares of the company’s stock valued at $58,000 after purchasing an additional 719 shares during the last quarter. Quarry LP acquired a new stake in Structure Therapeutics in the 2nd quarter valued at $79,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Structure Therapeutics by 60.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company’s stock worth $158,000 after acquiring an additional 1,420 shares in the last quarter. Finally, Dearborn Partners LLC bought a new stake in shares of Structure Therapeutics during the 3rd quarter worth approximately $202,000. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GPCR. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Structure Therapeutics in a research note on Thursday, December 19th. Morgan Stanley started coverage on shares of Structure Therapeutics in a research note on Monday, September 23rd. They set an “overweight” rating and a $118.00 price objective on the stock. JMP Securities reiterated a “market outperform” rating and issued a $91.00 target price on shares of Structure Therapeutics in a research note on Wednesday, December 18th. Finally, 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. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $86.50.

Structure Therapeutics Stock Performance

Shares of GPCR opened at $28.25 on Thursday. The firm has a market cap of $1.62 billion, a P/E ratio of -38.18 and a beta of -3.41. Structure Therapeutics Inc. has a 52 week low of $26.23 and a 52 week high of $62.74. The firm’s 50-day simple moving average is $35.00 and its 200 day simple moving average is $38.26.

Structure Therapeutics Company 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.