Principal Financial Group Inc. Sells 65,718 Shares of Structure Therapeutics Inc. Sponsored ADR $GPCR

Principal Financial Group Inc. cut its holdings in shares of Structure Therapeutics Inc. Sponsored ADR (NASDAQ:GPCR) by 7.7% during the third quarter, Holdings Channel.com reports. The firm owned 787,484 shares of the company’s stock after selling 65,718 shares during the period. Principal Financial Group Inc.’s holdings in Structure Therapeutics were worth $22,050,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. State of Wyoming bought a new position in Structure Therapeutics in the second quarter worth approximately $28,000. Assetmark Inc. increased its holdings in shares of Structure Therapeutics by 39.9% in the 2nd quarter. Assetmark Inc. now owns 2,877 shares of the company’s stock valued at $60,000 after acquiring an additional 820 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Structure Therapeutics by 29.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,415 shares of the company’s stock worth $92,000 after acquiring an additional 994 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Structure Therapeutics during the 2nd quarter worth $129,000. Finally, DNB Asset Management AS bought a new stake in Structure Therapeutics during the second quarter valued at about $221,000. 91.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GPCR has been the subject of a number of recent research reports. Zacks Research downgraded shares of Structure Therapeutics from a “hold” rating to a “strong sell” rating in a report on Friday, October 17th. HC Wainwright increased their target price on shares of Structure Therapeutics from $60.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Morgan Stanley raised their target price on shares of Structure Therapeutics from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Wall Street Zen downgraded Structure Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, January 31st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Structure Therapeutics in a report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Structure Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $104.45.

Structure Therapeutics Trading Up 2.3%

NASDAQ GPCR opened at $74.92 on Friday. Structure Therapeutics Inc. Sponsored ADR has a 12-month low of $13.22 and a 12-month high of $94.90. The company has a fifty day simple moving average of $70.81 and a two-hundred day simple moving average of $41.23. The stock has a market cap of $4.55 billion, a P/E ratio of -61.41 and a beta of -2.06.

Structure Therapeutics (NASDAQ:GPCR) last released its earnings results on Thursday, November 6th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.01). As a group, sell-side analysts forecast that Structure Therapeutics Inc. Sponsored ADR will post -0.82 earnings per share for the current year.

Structure Therapeutics 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.