Structure Therapeutics Inc. (NASDAQ:GPCR) Sees Significant Increase in Short Interest

Structure Therapeutics Inc. (NASDAQ:GPCR) saw a large increase in short interest in 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. Based on an average daily volume of 733,600 shares, the short-interest ratio is presently 15.3 days. Currently, 20.7% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

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

Structure Therapeutics Stock Performance

NASDAQ GPCR opened at $33.55 on Thursday. The business has a 50 day simple moving average of $37.66 and a 200 day simple moving average of $39.38. Structure Therapeutics has a 52-week low of $26.61 and a 52-week high of $64.45. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of -45.34 and a beta of -3.41.

Institutional Trading of Structure Therapeutics

Large investors have recently bought and sold shares of the business. Sandia Investment Management LP bought a new stake in Structure Therapeutics during the 2nd quarter worth approximately $39,000. Assetmark Inc. increased its stake 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 purchasing an additional 719 shares in the last quarter. Quarry LP bought a new stake in Structure Therapeutics during the 2nd quarter worth approximately $79,000. Mirae Asset Global Investments Co. Ltd. increased its stake 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 purchasing an additional 1,420 shares in the last quarter. Finally, Dearborn Partners LLC bought a new stake in Structure Therapeutics during the 3rd quarter worth approximately $202,000. 91.78% of the stock is owned by institutional investors.

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.