The Manufacturers Life Insurance Company Sells 28,600 Shares of Structure Therapeutics Inc. (NASDAQ:GPCR)

The Manufacturers Life Insurance Company cut its holdings in Structure Therapeutics Inc. (NASDAQ:GPCR) by 32.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 58,242 shares of the company’s stock after selling 28,600 shares during the period. The Manufacturers Life Insurance Company’s holdings in Structure Therapeutics were worth $1,580,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Virtus ETF Advisers LLC grew its stake in shares of Structure Therapeutics by 25.5% in the 4th quarter. Virtus ETF Advisers LLC now owns 2,242 shares of the company’s stock valued at $61,000 after buying an additional 455 shares during the period. Geode Capital Management LLC grew its stake in shares of Structure Therapeutics by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 45,705 shares of the company’s stock valued at $1,240,000 after buying an additional 480 shares during the period. ANTIPODES PARTNERS Ltd grew its stake in shares of Structure Therapeutics by 115.0% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,034 shares of the company’s stock valued at $28,000 after buying an additional 553 shares during the period. LPL Financial LLC grew its stake in shares of Structure Therapeutics by 6.0% in the 4th quarter. LPL Financial LLC now owns 11,485 shares of the company’s stock valued at $311,000 after buying an additional 646 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Structure Therapeutics by 12.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 7,403 shares of the company’s stock valued at $201,000 after buying an additional 843 shares during the period. 91.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on GPCR shares. William Blair started coverage on Structure Therapeutics in a research note on Friday, February 28th. They issued an “outperform” rating for the company. Citigroup started coverage on Structure Therapeutics in a research note on Friday, May 2nd. They issued a “buy” rating and a $60.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Structure Therapeutics in a research note on Tuesday, April 22nd. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, Structure Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $78.63.

Structure Therapeutics Stock Performance

GPCR stock opened at $25.56 on Monday. The company has a market capitalization of $1.47 billion, a P/E ratio of -34.54 and a beta of -1.69. Structure Therapeutics Inc. has a 52-week low of $13.22 and a 52-week high of $62.74. The business has a 50-day simple moving average of $20.94 and a two-hundred day simple moving average of $26.87.

Structure Therapeutics (NASDAQ:GPCR) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.03). As a group, sell-side analysts forecast that Structure Therapeutics Inc. will post -0.82 earnings per share for the current fiscal year.

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.