Principal Financial Group Inc. Invests $6.49 Million in Structure Therapeutics Inc. (NASDAQ:GPCR)

Principal Financial Group Inc. bought a new position in Structure Therapeutics Inc. (NASDAQ:GPCR) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 165,244 shares of the company’s stock, valued at approximately $6,489,000. Principal Financial Group Inc. owned about 0.35% of Structure Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of GPCR. Wellington Management Group LLP increased its stake in 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 acquiring an additional 3,504,747 shares during the last quarter. Avoro Capital Advisors LLC increased its position in Structure Therapeutics by 133.3% during the 4th quarter. Avoro Capital Advisors LLC now owns 2,333,333 shares of the company’s stock worth $95,107,000 after purchasing an additional 1,333,333 shares in the last quarter. RA Capital Management L.P. raised its holdings in Structure Therapeutics by 210.2% in the first quarter. RA Capital Management L.P. now owns 1,510,362 shares of the company’s stock valued at $64,734,000 after buying an additional 1,023,530 shares during the period. Capital International Investors acquired a new position in Structure Therapeutics during the fourth quarter valued at approximately $34,647,000. Finally, Capital Research Global Investors grew its stake in Structure Therapeutics by 182.3% during the fourth quarter. Capital Research Global Investors now owns 973,535 shares of the company’s stock worth $39,681,000 after buying an additional 628,687 shares during the period. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Structure Therapeutics Price Performance

Shares of Structure Therapeutics stock opened at $35.21 on Tuesday. Structure Therapeutics Inc. has a 1-year low of $26.61 and a 1-year high of $75.02. The company has a market capitalization of $2.01 billion, a PE ratio of -45.73 and a beta of -3.52. The business has a 50-day moving average of $38.05 and a 200-day moving average of $39.77.

Structure Therapeutics (NASDAQ:GPCR) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.05. On average, equities analysts expect that Structure Therapeutics Inc. will post -0.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JMP Securities cut their target price on shares of Structure Therapeutics from $91.00 to $86.00 and set a “market outperform” rating on the stock in a research note on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price objective on shares of Structure Therapeutics in a research note on Monday. JPMorgan Chase & Co. initiated 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. Finally, BMO Capital Markets raised their target price on Structure Therapeutics from $83.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, June 7th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $84.63.

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.