Short Interest in Structure Therapeutics Inc. (NASDAQ:GPCR) Drops By 6.1%

Structure Therapeutics Inc. (NASDAQ:GPCR) saw a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 10,550,000 shares, a decrease of 6.1% from the November 15th total of 11,230,000 shares. Approximately 19.5% of the shares of the company are short sold. Based on an average daily volume of 788,200 shares, the short-interest ratio is presently 13.4 days.

Institutional Investors Weigh In On Structure Therapeutics

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in Structure Therapeutics by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 45,225 shares of the company’s stock worth $1,985,000 after buying an additional 312 shares in the last quarter. Squarepoint Ops LLC grew its stake 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 worth $567,000 after purchasing an additional 617 shares in the last quarter. Assetmark Inc. increased its holdings 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 during the period. Sandia Investment Management LP bought a new stake in shares of Structure Therapeutics during the second quarter valued at about $39,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Structure Therapeutics by 60.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,784 shares of the company’s stock valued at $158,000 after purchasing an additional 1,420 shares in the last quarter. Institutional investors own 91.78% of the company’s stock.

Wall Street Analysts Forecast Growth

GPCR has been the subject of several research reports. HC Wainwright started coverage on shares of Structure Therapeutics in a report on Wednesday, December 4th. They issued a “buy” rating and a $80.00 price target for the company. Morgan Stanley assumed coverage on Structure Therapeutics in a research note on Monday, September 23rd. They issued an “overweight” rating and a $118.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 target price on shares of Structure Therapeutics in a report on Monday, September 23rd. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $85.67.

Structure Therapeutics Stock Up 1.5 %

Structure Therapeutics stock opened at $31.48 on Wednesday. Structure Therapeutics has a 52-week low of $26.61 and a 52-week high of $62.74. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -42.54 and a beta of -3.41. The firm has a 50-day moving average price of $35.95 and a two-hundred day moving average price of $39.17.

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.