Rock Springs Capital Management LP Sells 108,019 Shares of Structure Therapeutics Inc. Sponsored ADR $GPCR

Key Points

• Rock Springs Capital Management reduced its Structure Therapeutics stake by 14.4%, selling 108,019 shares in the first quarter. It still held 640,217 shares worth approximately $30.9 million, representing about 0.90% of GPCR.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $110.55, although individual targets range from $70 to $101 and some firms maintain sell ratings.
• GPCR opened at $48.69, with a $3.46 billion market capitalization, after trading between $15.80 and $94.90 over the past year. The company reported a quarterly loss of $0.35 per share, beating estimates for a $0.39 loss.

Rock Springs Capital Management LP reduced its stake in Structure Therapeutics Inc. Sponsored ADR (NASDAQ:GPCR - Free Report) by 14.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 640,217 shares of the company's stock after selling 108,019 shares during the period. Structure Therapeutics makes up approximately 1.8% of Rock Springs Capital Management LP's holdings, making the stock its 18th largest holding. Rock Springs Capital Management LP owned approximately 0.90% of Structure Therapeutics worth $30,858,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of GPCR. CWM LLC lifted its holdings in shares of Structure Therapeutics by 35.2% during the fourth quarter. CWM LLC now owns 480 shares of the company's stock valued at $33,000 after acquiring an additional 125 shares during the period. Sterling Capital Management LLC bought a new stake in shares of Structure Therapeutics in the 1st quarter worth about $28,000. State of Wyoming bought a new stake in shares of Structure Therapeutics in the 2nd quarter worth about $28,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Structure Therapeutics in the 4th quarter worth about $127,000. Finally, Assetmark Inc. increased its position in shares of Structure Therapeutics by 21.4% during the 1st quarter. Assetmark Inc. now owns 2,544 shares of the company's stock worth $123,000 after purchasing an additional 449 shares in the last quarter. Institutional investors and hedge funds own 91.78% of the company's stock.

Analysts Set New Price Targets

GPCR has been the topic of several research analyst reports. Canaccord Genuity Group initiated coverage on shares of Structure Therapeutics in a research note on Monday, April 27th. They set a "buy" rating and a $101.00 price objective on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Structure Therapeutics in a research note on Friday, July 17th. Wall Street Zen downgraded Structure Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Finally, HC Wainwright decreased their price target on Structure Therapeutics from $100.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, June 11th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $110.55.

Structure Therapeutics Stock Down 0.9%

Shares of NASDAQ:GPCR opened at $48.69 on Tuesday. Structure Therapeutics Inc. Sponsored ADR has a 12 month low of $15.80 and a 12 month high of $94.90. The company's 50-day moving average price is $45.67 and its two-hundred day moving average price is $55.70. The firm has a market cap of $3.46 billion, a P/E ratio of -55.96 and a beta of -1.50.

Structure Therapeutics (NASDAQ:GPCR - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.35) earnings per share for the quarter, topping analysts' consensus estimates of ($0.39) by $0.04. As a group, equities analysts predict 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.

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