Short Interest in Structure Therapeutics Inc. (NASDAQ:GPCR) Increases By 7.6%

Structure Therapeutics Inc. (NASDAQ:GPCR) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 11,230,000 shares, an increase of 7.6% from the October 31st total of 10,440,000 shares. Approximately 20.7% of the company’s shares are short sold. Based on an average daily trading volume, of 733,600 shares, the short-interest ratio is currently 15.3 days.

Wall Street Analysts Forecast Growth

GPCR has been the topic of a number of recent analyst reports. JMP Securities cut their price target on shares of 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 target price on shares of Structure Therapeutics in a report on Monday, September 23rd. Finally, Morgan Stanley started coverage on Structure Therapeutics in a research note on Monday, September 23rd. They set an “overweight” rating and a $118.00 price target for the company. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Structure Therapeutics has a consensus rating of “Buy” and an average target price of $86.80.

Institutional Investors Weigh In On Structure Therapeutics

Large investors have recently made changes to their positions in the company. Sandia Investment Management LP acquired a new position in Structure Therapeutics during the 2nd quarter worth $39,000. Assetmark Inc. raised its stake in shares of Structure Therapeutics by 120.0% during the third quarter. Assetmark Inc. now owns 1,318 shares of the company’s stock valued at $58,000 after purchasing an additional 719 shares in the last quarter. Quarry LP acquired a new stake in Structure Therapeutics in the second quarter worth about $79,000. Mirae Asset Global Investments Co. Ltd. grew its position in Structure Therapeutics by 60.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company’s stock valued at $158,000 after buying an additional 1,420 shares in the last quarter. Finally, Dearborn Partners LLC acquired a new position in Structure Therapeutics during the 3rd quarter valued at about $202,000. Institutional investors and hedge funds own 91.78% of the company’s stock.

Structure Therapeutics Stock Performance

NASDAQ GPCR opened at $33.25 on Wednesday. The firm has a market capitalization of $1.90 billion, a PE ratio of -44.93 and a beta of -3.41. Structure Therapeutics has a one year low of $26.61 and a one year high of $66.38. The company has a 50-day simple moving average of $37.83 and a 200-day simple moving average of $39.42.

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.