First Light Asset Management LLC Decreases Stake in Structure Therapeutics Inc. Sponsored ADR $GPCR

Key Points

• First Light Asset Management LLC significantly reduced its stake in Structure Therapeutics by 66.8%, owning 132,380 shares valued at approximately $2.29 million after selling 266,475 shares in the first quarter.
• Multiple hedge funds increased their positions in Structure Therapeutics, with National Bank of Canada FI boosting its holdings by an impressive 1,448.2% in the same quarter.
• Wall Street analysts maintain a favorable outlook, with an average rating of "Buy" and a target price of $75.71 for Structure Therapeutics, despite the company reporting a quarterly EPS of ($0.36), missing expectations.

First Light Asset Management LLC lessened its position in shares of Structure Therapeutics Inc. Sponsored ADR (NASDAQ:GPCR - Free Report) by 66.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 132,380 shares of the company's stock after selling 266,475 shares during the quarter. First Light Asset Management LLC owned 0.23% of Structure Therapeutics worth $2,291,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. GF Fund Management CO. LTD. purchased a new position in Structure Therapeutics during the fourth quarter worth approximately $34,000. National Bank of Canada FI grew its position in Structure Therapeutics by 1,448.2% in the first quarter. National Bank of Canada FI now owns 2,957 shares of the company's stock worth $51,000 after acquiring an additional 2,766 shares during the period. Tower Research Capital LLC TRC grew its position in Structure Therapeutics by 673.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,076 shares of the company's stock worth $111,000 after acquiring an additional 3,549 shares during the period. ANTIPODES PARTNERS Ltd boosted its position in shares of Structure Therapeutics by 310.7% during the first quarter. ANTIPODES PARTNERS Ltd now owns 4,247 shares of the company's stock worth $74,000 after buying an additional 3,213 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Structure Therapeutics by 12.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 7,403 shares of the company's stock worth $201,000 after buying an additional 843 shares during the period. Hedge funds and other institutional investors own 91.78% of the company's stock.

Structure Therapeutics Stock Up 11.7%

Shares of GPCR stock traded up $2.32 on Friday, reaching $22.08. 2,087,248 shares of the stock were exchanged, compared to its average volume of 1,048,602. The stock has a market cap of $1.27 billion, a P/E ratio of -21.03 and a beta of -1.88. The firm has a 50 day moving average of $18.86 and a two-hundred day moving average of $20.73. Structure Therapeutics Inc. Sponsored ADR has a 1-year low of $13.22 and a 1-year high of $45.37.

Structure Therapeutics (NASDAQ:GPCR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.36) earnings per share for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.08). On average, equities research analysts predict that Structure Therapeutics Inc. Sponsored ADR will post -0.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GPCR shares. JMP Securities decreased their target price on Structure Therapeutics from $89.00 to $87.00 and set a "market outperform" rating for the company in a report on Thursday, August 7th. Cantor Fitzgerald reiterated an "overweight" rating and set a $65.00 target price on shares of Structure Therapeutics in a research report on Monday, June 23rd. Guggenheim dropped their price target on Structure Therapeutics from $92.00 to $90.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Finally, HC Wainwright dropped their price target on Structure Therapeutics from $75.00 to $60.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Eight analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $75.71.

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.