Zimmer Partners LP Boosts Stock Position in Structure Therapeutics Inc. (NASDAQ:GPCR)

Zimmer Partners LP grew its stake in shares of Structure Therapeutics Inc. (NASDAQ:GPCR) by 19.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 211,100 shares of the company’s stock after buying an additional 34,000 shares during the period. Zimmer Partners LP owned 0.37% of Structure Therapeutics worth $9,265,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in shares of Structure Therapeutics by 2.9% during the 3rd quarter. Wellington Management Group LLP now owns 7,769,771 shares of the company’s stock valued at $341,015,000 after buying an additional 221,851 shares in the last quarter. FMR LLC lifted its position in shares of Structure Therapeutics by 6.7% during the 3rd quarter. FMR LLC now owns 6,128,444 shares of the company’s stock valued at $268,977,000 after buying an additional 383,635 shares in the last quarter. Janus Henderson Group PLC raised its stake in Structure Therapeutics by 18.0% during the 3rd 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. Driehaus Capital Management LLC raised its stake in Structure Therapeutics by 3.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,577,136 shares of the company’s stock valued at $101,204,000 after purchasing an additional 86,833 shares during the period. Finally, Federated Hermes Inc. raised its stake in Structure Therapeutics by 6.6% during the 2nd quarter. Federated Hermes Inc. now owns 2,407,206 shares of the company’s stock valued at $94,531,000 after purchasing an additional 150,000 shares during the period. 91.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Structure Therapeutics Trading Up 6.8 %

Shares of NASDAQ GPCR opened at $33.35 on Friday. The stock has a fifty day moving average price of $37.29 and a 200 day moving average price of $39.30. Structure Therapeutics Inc. has a 12-month low of $26.61 and a 12-month high of $62.85.

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.