Banque Pictet & Cie SA Sells 6,876 Shares of Structure Therapeutics Inc. (NASDAQ:GPCR)

Banque Pictet & Cie SA decreased its holdings in Structure Therapeutics Inc. (NASDAQ:GPCR) by 8.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,177 shares of the company’s stock after selling 6,876 shares during the period. Banque Pictet & Cie SA owned 0.13% of Structure Therapeutics worth $2,012,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Spire Wealth Management bought a new position in shares of Structure Therapeutics in the 4th quarter valued at about $243,000. JPMorgan Chase & Co. lifted its stake in Structure Therapeutics by 302.3% in the third quarter. JPMorgan Chase & Co. now owns 33,936 shares of the company’s stock worth $1,489,000 after purchasing an additional 25,500 shares during the last quarter. Vestal Point Capital LP lifted its stake in Structure Therapeutics by 105.4% in the third quarter. Vestal Point Capital LP now owns 1,150,000 shares of the company’s stock worth $50,474,000 after purchasing an additional 590,000 shares during the last quarter. abrdn plc lifted its stake in Structure Therapeutics by 132.7% in the third quarter. abrdn plc now owns 217,083 shares of the company’s stock worth $9,528,000 after purchasing an additional 123,789 shares during the last quarter. Finally, Barclays PLC lifted its stake in Structure Therapeutics by 64.5% in the third quarter. Barclays PLC now owns 81,138 shares of the company’s stock worth $3,562,000 after purchasing an additional 31,815 shares during the last quarter. Institutional investors own 91.78% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on GPCR shares. JMP Securities reissued a “market outperform” rating and issued a $91.00 price objective on shares of Structure Therapeutics in a research note on Wednesday, December 18th. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Structure Therapeutics in a research note on Thursday, December 19th. Finally, Stifel Nicolaus started coverage on shares of Structure Therapeutics in a research note on Wednesday, January 8th. They issued a “buy” rating and a $50.00 price objective for the company. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $81.29.

Structure Therapeutics Stock Performance

Structure Therapeutics stock opened at $24.39 on Friday. The company has a 50 day moving average price of $28.53 and a 200-day moving average price of $34.57. Structure Therapeutics Inc. has a fifty-two week low of $23.50 and a fifty-two week high of $62.74. The company has a market capitalization of $1.40 billion, a PE ratio of -32.96 and a beta of -2.75.

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.