Allspring Global Investments Holdings LLC Makes New Investment in Structure Therapeutics Inc. (NASDAQ:GPCR)

Allspring Global Investments Holdings LLC acquired a new position in Structure Therapeutics Inc. (NASDAQ:GPCR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 48,085 shares of the company's stock, valued at approximately $1,960,000. Allspring Global Investments Holdings LLC owned approximately 0.10% of Structure Therapeutics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. increased its holdings in shares of Structure Therapeutics by 835.5% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,799,923 shares of the company's stock valued at $90,752,000 after acquiring an additional 1,607,525 shares in the last quarter. FMR LLC grew its holdings in shares of Structure Therapeutics by 28.5% during the third quarter. FMR LLC now owns 1,590,335 shares of the company's stock valued at $80,185,000 after buying an additional 352,600 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Structure Therapeutics by 9.4% during the third quarter. Federated Hermes Inc. now owns 1,110,200 shares of the company's stock valued at $55,976,000 after acquiring an additional 95,500 shares in the last quarter. Wellington Management Group LLP raised its holdings in Structure Therapeutics by 312.6% in the 3rd quarter. Wellington Management Group LLP now owns 867,579 shares of the company's stock worth $43,743,000 after acquiring an additional 657,310 shares during the last quarter. Finally, Avidity Partners Management LP lifted its position in Structure Therapeutics by 1,222.8% in the 3rd quarter. Avidity Partners Management LP now owns 500,000 shares of the company's stock valued at $25,210,000 after acquiring an additional 462,200 shares in the last quarter. Hedge funds and other institutional investors own 91.78% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $65.00 target price on shares of Structure Therapeutics in a report on Thursday. Lifesci Capital restated an "outperform" rating on shares of Structure Therapeutics in a research report on Tuesday, February 27th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Structure Therapeutics has an average rating of "Buy" and an average target price of $85.71.

Structure Therapeutics Stock Down 0.9 %

Shares of NASDAQ GPCR traded down $0.34 during midday trading on Monday, reaching $36.02. 558,222 shares of the company's stock traded hands, compared to its average volume of 576,576. The company has a market cap of $1.68 billion and a price-to-earnings ratio of -43.40. Structure Therapeutics Inc. has a one year low of $21.79 and a one year high of $75.02. The stock's 50 day simple moving average is $40.30 and its 200-day simple moving average is $48.22.

Structure Therapeutics (NASDAQ:GPCR - Get Free Report) last announced its quarterly earnings results on Friday, March 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.21) by $0.04. Equities analysts predict that Structure Therapeutics Inc. will post -0.98 EPS for the current fiscal year.

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.