Structure Therapeutics Inc. (NASDAQ:GPCR) Sees Large Decrease in Short Interest

Structure Therapeutics Inc. (NASDAQ:GPCR) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 10,430,000 shares, a drop of 6.9% from the August 15th total of 11,200,000 shares. Currently, 19.0% of the shares of the stock are sold short. Based on an average daily volume of 851,000 shares, the days-to-cover ratio is presently 12.3 days.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GPCR. Sandia Investment Management LP purchased a new position in Structure Therapeutics in the second quarter valued at $39,000. Quarry LP purchased a new position in shares of Structure Therapeutics in the 2nd quarter valued at about $79,000. Sectoral Asset Management Inc. acquired a new position in Structure Therapeutics in the 4th quarter worth about $139,000. ADAR1 Capital Management LLC purchased a new position in Structure Therapeutics during the fourth quarter worth approximately $163,000. Finally, Sei Investments Co. acquired a new stake in Structure Therapeutics in the second quarter valued at approximately $212,000. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. BMO Capital Markets boosted their price objective on shares of Structure Therapeutics from $83.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, June 7th. 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 report on Friday, August 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price objective on shares of Structure Therapeutics in a research note on Monday. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Structure Therapeutics presently has an average rating of “Buy” and a consensus price target of $84.63.

Structure Therapeutics Trading Up 1.3 %

NASDAQ GPCR opened at $38.75 on Friday. Structure Therapeutics has a 12-month low of $26.61 and a 12-month high of $75.02. The company has a fifty day simple moving average of $38.01 and a two-hundred day simple moving average of $39.63. The stock has a market cap of $1.81 billion, a P/E ratio of -50.32 and a beta of -3.52.

Structure Therapeutics (NASDAQ:GPCR) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.05. As a group, sell-side analysts forecast that Structure Therapeutics will post -0.86 earnings per share for the current year.

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.