Readystate Asset Management LP Increases Position in Structure Therapeutics Inc. Sponsored ADR $GPCR

Readystate Asset Management LP boosted its position in Structure Therapeutics Inc. Sponsored ADR (NASDAQ:GPCR) by 32.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 237,188 shares of the company’s stock after acquiring an additional 58,576 shares during the quarter. Readystate Asset Management LP owned 0.41% of Structure Therapeutics worth $6,641,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its holdings in shares of Structure Therapeutics by 7.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,588,198 shares of the company’s stock worth $32,939,000 after purchasing an additional 106,389 shares in the last quarter. Orbimed Advisors LLC lifted its position in Structure Therapeutics by 49.5% in the 2nd quarter. Orbimed Advisors LLC now owns 1,199,300 shares of the company’s stock worth $24,873,000 after buying an additional 397,272 shares during the last quarter. Pacific Heights Asset Management LLC boosted its stake in Structure Therapeutics by 52.2% in the third quarter. Pacific Heights Asset Management LLC now owns 700,000 shares of the company’s stock worth $19,600,000 after buying an additional 240,000 shares in the last quarter. Aberdeen Group plc grew its position in Structure Therapeutics by 46.1% during the third quarter. Aberdeen Group plc now owns 586,869 shares of the company’s stock valued at $16,432,000 after acquiring an additional 185,245 shares during the last quarter. Finally, Invesco Ltd. grew its position in Structure Therapeutics by 7.6% during the second quarter. Invesco Ltd. now owns 424,548 shares of the company’s stock valued at $8,805,000 after acquiring an additional 30,162 shares during the last quarter. Institutional investors own 91.78% of the company’s stock.

Structure Therapeutics Trading Up 1.9%

Structure Therapeutics stock opened at $71.41 on Wednesday. The firm has a market cap of $4.33 billion, a P/E ratio of -58.53 and a beta of -2.06. Structure Therapeutics Inc. Sponsored ADR has a 1-year low of $13.22 and a 1-year high of $94.90. The firm has a 50-day moving average of $75.10 and a 200-day moving average of $44.15.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group raised shares of Structure Therapeutics to a “strong-buy” rating in a research note on Tuesday, January 20th. JPMorgan Chase & Co. upped their price target on shares of Structure Therapeutics from $65.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, January 22nd. Stifel Nicolaus raised their price objective on Structure Therapeutics from $50.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Piper Sandler reissued an “overweight” rating on shares of Structure Therapeutics in a research note on Tuesday, October 28th. Finally, Citigroup restated an “outperform” rating on shares of Structure Therapeutics in a report on Friday, December 12th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.20.

Structure Therapeutics Company 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.