Ikarian Capital LLC Takes $5.06 Million Position in Structure Therapeutics Inc. (NASDAQ:GPCR)

Ikarian Capital LLC purchased a new stake in Structure Therapeutics Inc. (NASDAQ:GPCR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 115,200 shares of the company’s stock, valued at approximately $5,056,000. Structure Therapeutics accounts for about 0.7% of Ikarian Capital LLC’s investment portfolio, making the stock its 23rd largest holding. Ikarian Capital LLC owned approximately 0.20% of Structure Therapeutics at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GPCR. Janus Henderson Group PLC raised its position in shares of Structure Therapeutics by 18.0% in the third quarter. Janus Henderson Group PLC now owns 3,956,878 shares of the company’s stock valued at $173,623,000 after purchasing an additional 602,609 shares during the period. Vestal Point Capital LP grew its stake in Structure Therapeutics by 105.4% during the third quarter. Vestal Point Capital LP now owns 1,150,000 shares of the company’s stock valued at $50,474,000 after acquiring an additional 590,000 shares in the last quarter. First Light Asset Management LLC grew its stake in Structure Therapeutics by 296.1% during the second quarter. First Light Asset Management LLC now owns 590,647 shares of the company’s stock valued at $23,195,000 after acquiring an additional 441,534 shares in the last quarter. FMR LLC grew its stake in Structure Therapeutics by 6.7% during the third quarter. FMR LLC now owns 6,128,444 shares of the company’s stock valued at $268,977,000 after acquiring an additional 383,635 shares in the last quarter. Finally, Ensign Peak Advisors Inc purchased a new position in Structure Therapeutics during the second quarter valued at approximately $7,217,000. Institutional investors own 91.78% of the company’s stock.

Structure Therapeutics Price Performance

GPCR stock traded up $0.16 during midday trading on Tuesday, reaching $34.10. The company had a trading volume of 31,390 shares, compared to its average volume of 778,879. Structure Therapeutics Inc. has a 1 year low of $26.61 and a 1 year high of $66.38. The firm has a 50-day moving average price of $38.04 and a 200-day moving average price of $39.44.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GPCR shares. Morgan Stanley started coverage on shares of Structure Therapeutics in a research note on Monday, September 23rd. They set an “overweight” rating and a $118.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Structure Therapeutics in a research note on Monday, September 23rd. Finally, JMP Securities reduced their price objective on shares of Structure Therapeutics from $91.00 to $86.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Structure Therapeutics has an average rating of “Buy” and a consensus target price of $86.80.

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.