Principal Financial Group Inc. Grows Stock Position in Structure Therapeutics Inc. Sponsored ADR $GPCR

Key Points

• Principal Financial Group increased its stake in Structure Therapeutics by 36.6% in the first quarter, buying an additional 469,554 shares and bringing its total holding to 1,753,764 shares worth about $84.5 million.
• Institutional interest in the stock remains high, with hedge funds and other investors owning 91.78% of Structure Therapeutics shares. Several firms, including Morgan Stanley and Wellington Management, also boosted their positions recently.
• Wall Street sentiment is mixed but leaning positive: analysts currently assign the stock a “Moderate Buy” consensus rating with a $110.55 average target price, even though some firms have issued sell ratings and the shares recently traded at $46.03.

Principal Financial Group Inc. lifted its holdings in shares of Structure Therapeutics Inc. Sponsored ADR (NASDAQ:GPCR - Free Report) by 36.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,753,764 shares of the company's stock after acquiring an additional 469,554 shares during the period. Principal Financial Group Inc. owned approximately 2.48% of Structure Therapeutics worth $84,531,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Morgan Stanley increased its stake in Structure Therapeutics by 261.4% during the 4th quarter. Morgan Stanley now owns 2,087,834 shares of the company's stock valued at $145,209,000 after purchasing an additional 1,510,093 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Structure Therapeutics by 25.2% during the fourth quarter. Wellington Management Group LLP now owns 7,121,984 shares of the company's stock worth $495,334,000 after buying an additional 1,432,797 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Structure Therapeutics by 477.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,671,138 shares of the company's stock valued at $116,228,000 after buying an additional 1,381,745 shares during the last quarter. Avoro Capital Advisors LLC grew its holdings in shares of Structure Therapeutics by 21.3% during the fourth quarter. Avoro Capital Advisors LLC now owns 6,555,555 shares of the company's stock valued at $455,939,000 after buying an additional 1,150,000 shares during the last quarter. Finally, Capitolis Liquid Global Markets LLC acquired a new position in shares of Structure Therapeutics in the 4th quarter valued at $61,086,000. Institutional investors and hedge funds own 91.78% of the company's stock.

Wall Street Analysts Forecast Growth

GPCR has been the subject of a number of research analyst reports. Wall Street Zen lowered Structure Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Wolfe Research started coverage on Structure Therapeutics in a report on Thursday, March 26th. They issued a "peer perform" rating on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Structure Therapeutics in a research note on Tuesday, April 21st. HC Wainwright decreased their target price on Structure Therapeutics from $100.00 to $70.00 and set a "buy" rating for the company in a report on Thursday, June 11th. Finally, Canaccord Genuity Group initiated coverage on Structure Therapeutics in a research report on Monday, April 27th. They issued a "buy" rating and a $101.00 target price on the stock. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $110.55.

Structure Therapeutics Stock Down 7.2%

Shares of GPCR stock opened at $46.03 on Friday. The stock has a market cap of $3.27 billion, a PE ratio of -52.91 and a beta of -1.50. The business has a 50-day simple moving average of $44.15 and a 200-day simple moving average of $56.58. Structure Therapeutics Inc. Sponsored ADR has a 52-week low of $15.80 and a 52-week high of $94.90.

Structure Therapeutics (NASDAQ:GPCR - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.35) EPS for the quarter, topping analysts' consensus estimates of ($0.39) by $0.04. Sell-side analysts anticipate that Structure Therapeutics Inc. Sponsored ADR will post -1.64 earnings per share for the current fiscal year.

Structure Therapeutics Profile

Structure Therapeutics NASDAQ: GPCR is a clinical‐stage biotechnology company focused on the discovery and development of oral small‐molecule therapies that target G protein‐coupled receptors (GPCRs). Leveraging advances in structural biology, computational chemistry and medicinal chemistry, the company’s scientific platform is designed to optimize binding interactions and pharmacokinetic properties, with the goal of delivering innovative treatments for metabolic and inflammatory disorders.

The company’s pipeline comprises multiple programs in various stages of preclinical and clinical development.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.