Readystate Asset Management LP Purchases New Position in Structure Therapeutics Inc. (NASDAQ:GPCR)

Readystate Asset Management LP purchased a new stake in shares of Structure Therapeutics Inc. (NASDAQ:GPCR) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 84,000 shares of the company’s stock, valued at approximately $3,687,000. Readystate Asset Management LP owned 0.15% of Structure Therapeutics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GPCR. Sandia Investment Management LP purchased a new position in shares of Structure Therapeutics during the 2nd quarter worth approximately $39,000. Assetmark Inc. grew its holdings in shares of Structure Therapeutics by 120.0% during the 3rd quarter. Assetmark Inc. now owns 1,318 shares of the company’s stock worth $58,000 after acquiring an additional 719 shares during the period. Quarry LP purchased a new position in shares of Structure Therapeutics during the 2nd quarter worth approximately $79,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Structure Therapeutics by 60.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company’s stock worth $158,000 after acquiring an additional 1,420 shares during the period. Finally, Dearborn Partners LLC purchased a new position in shares of Structure Therapeutics during the 3rd quarter worth approximately $202,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GPCR. JMP Securities reduced their target price on Structure Therapeutics from $91.00 to $86.00 and set a “market outperform” rating on the stock in a report on Friday, August 9th. HC Wainwright initiated coverage on Structure Therapeutics in a research report on Wednesday. They issued a “buy” rating and a $80.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price target on shares of Structure Therapeutics in a research report on Monday, September 23rd. Finally, Morgan Stanley initiated coverage on Structure Therapeutics in a research report on Monday, September 23rd. They issued an “overweight” rating and a $118.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $85.67.

Structure Therapeutics Stock Up 0.9 %

GPCR stock opened at $33.55 on Thursday. Structure Therapeutics Inc. has a 12-month low of $26.61 and a 12-month high of $64.45. The stock’s 50 day simple moving average is $37.66 and its 200 day simple moving average is $39.38.

About Structure Therapeutics

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.