Structure Therapeutics Inc. (NASDAQ:GPCR) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC cut its stake in shares of Structure Therapeutics Inc. (NASDAQ:GPCR - Free Report) by 76.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,713 shares of the company's stock after selling 220,923 shares during the period. Fred Alger Management LLC owned approximately 0.12% of Structure Therapeutics worth $2,928,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GPCR. Squarepoint Ops LLC grew its holdings in shares of Structure Therapeutics by 4.5% in the second quarter. Squarepoint Ops LLC now owns 14,449 shares of the company's stock valued at $567,000 after purchasing an additional 617 shares in the last quarter. Assetmark Inc. grew its holdings in Structure Therapeutics by 120.0% during the 3rd quarter. Assetmark Inc. now owns 1,318 shares of the company's stock worth $58,000 after acquiring an additional 719 shares in the last quarter. Sandia Investment Management LP acquired a new position in Structure Therapeutics during the 2nd quarter worth approximately $39,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Structure Therapeutics by 60.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company's stock worth $158,000 after acquiring an additional 1,420 shares in the last quarter. Finally, Quarry LP acquired a new position in Structure Therapeutics during the 2nd quarter worth approximately $79,000. 91.78% of the stock is currently owned by institutional investors and hedge funds.

Structure Therapeutics Trading Down 1.8 %

Shares of NASDAQ:GPCR traded down $0.60 on Friday, reaching $33.15. 240,485 shares of the company were exchanged, compared to its average volume of 805,174. Structure Therapeutics Inc. has a 1-year low of $26.61 and a 1-year high of $66.38. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -44.80 and a beta of -3.23. The company has a 50-day moving average of $38.21 and a 200-day moving average of $39.45.

Analyst Ratings Changes

GPCR has been the subject of several recent analyst reports. Cantor Fitzgerald restated an "overweight" rating and set a $65.00 price objective on shares of Structure Therapeutics in a research report on Monday, September 23rd. 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 report on Friday, August 9th. Finally, Morgan Stanley began coverage on shares of Structure Therapeutics in a research report on Monday, September 23rd. They set an "overweight" rating and a $118.00 price objective for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Structure Therapeutics presently has an average rating of "Buy" and an average target price of $86.80.

Structure Therapeutics Company 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.