Principal Financial Group Inc. Has $23.94 Million Position in Structure Therapeutics Inc. (NASDAQ:GPCR)

Principal Financial Group Inc. increased its position in shares of Structure Therapeutics Inc. (NASDAQ:GPCR) by 230.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 545,359 shares of the company’s stock after buying an additional 380,115 shares during the quarter. Principal Financial Group Inc. owned 0.95% of Structure Therapeutics worth $23,936,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Exome Asset Management LLC acquired a new stake in shares of Structure Therapeutics during the 3rd quarter worth approximately $5,274,000. Franklin Resources Inc. boosted its stake in Structure Therapeutics by 9.4% during the third quarter. Franklin Resources Inc. now owns 706,106 shares of the company’s stock worth $30,991,000 after buying an additional 60,397 shares in the last quarter. Geode Capital Management LLC increased its holdings in Structure Therapeutics by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 45,225 shares of the company’s stock valued at $1,985,000 after buying an additional 312 shares during the period. Barclays PLC raised its stake in shares of Structure Therapeutics by 64.5% in the 3rd quarter. Barclays PLC now owns 81,138 shares of the company’s stock valued at $3,562,000 after buying an additional 31,815 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its holdings in shares of Structure Therapeutics by 35.6% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 29,429 shares of the company’s stock worth $1,292,000 after acquiring an additional 7,719 shares during the period. 91.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GPCR. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price target on shares of Structure Therapeutics in a research report on Monday, September 23rd. HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Structure Therapeutics in a research report on Thursday, December 19th. JMP Securities reiterated a “market outperform” rating and set a $91.00 price objective on shares of Structure Therapeutics in a research note on Wednesday, December 18th. Finally, Morgan Stanley began coverage on shares of Structure Therapeutics in a report on Monday, September 23rd. They issued an “overweight” rating and a $118.00 target price on the stock. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $86.50.

Structure Therapeutics Trading Down 1.2 %

Shares of GPCR stock opened at $28.25 on Thursday. Structure Therapeutics Inc. has a 1 year low of $26.23 and a 1 year high of $62.74. The firm’s 50 day moving average is $35.00 and its 200-day moving average is $38.26. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -38.18 and a beta of -3.41.

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.