Bank of America Corp DE Decreases Stake in Structure Therapeutics Inc. (NASDAQ:GPCR)

Bank of America Corp DE decreased its holdings in Structure Therapeutics Inc. (NASDAQ:GPCR - Free Report) by 36.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,185 shares of the company's stock after selling 31,021 shares during the quarter. Bank of America Corp DE owned approximately 0.09% of Structure Therapeutics worth $1,469,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GPCR. Barclays PLC grew its stake in shares of Structure Therapeutics by 64.5% in the third quarter. Barclays PLC now owns 81,138 shares of the company's stock worth $3,562,000 after purchasing an additional 31,815 shares during the last quarter. Spire Wealth Management bought a new stake in Structure Therapeutics during the fourth quarter valued at $243,000. Money Concepts Capital Corp boosted its position in Structure Therapeutics by 4.2% during the fourth quarter. Money Concepts Capital Corp now owns 21,031 shares of the company's stock valued at $570,000 after acquiring an additional 848 shares during the last quarter. Principal Financial Group Inc. boosted its position in Structure Therapeutics by 45.1% during the fourth quarter. Principal Financial Group Inc. now owns 791,134 shares of the company's stock valued at $21,456,000 after acquiring an additional 245,775 shares during the last quarter. Finally, Handelsbanken Fonder AB bought a new stake in Structure Therapeutics during the fourth quarter valued at $4,475,000. Institutional investors own 91.78% of the company's stock.

Structure Therapeutics Stock Performance

Shares of NASDAQ GPCR traded down $0.34 during midday trading on Friday, hitting $21.13. 1,227,836 shares of the stock traded hands, compared to its average volume of 862,445. The company has a market cap of $1.21 billion, a PE ratio of -28.55 and a beta of -1.87. Structure Therapeutics Inc. has a one year low of $13.22 and a one year high of $54.08. The business has a 50 day moving average price of $22.00 and a two-hundred day moving average price of $24.97.

Structure Therapeutics (NASDAQ:GPCR - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.03). As a group, equities research analysts forecast that Structure Therapeutics Inc. will post -0.82 EPS for the current fiscal year.

Analyst Ratings Changes

GPCR has been the topic of a number of research analyst reports. HC Wainwright cut their price target on shares of Structure Therapeutics from $80.00 to $75.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Citigroup initiated coverage on shares of Structure Therapeutics in a research report on Friday, May 2nd. They set a "buy" rating and a $60.00 price target on the stock. Finally, William Blair initiated coverage on shares of Structure Therapeutics in a research report on Friday, February 28th. They set an "outperform" rating on the stock. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $76.50.

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.