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

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

Hedge Funds Weigh In On Structure Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sandia Investment Management LP purchased a new position in Structure Therapeutics in the 2nd quarter worth approximately $39,000. Assetmark Inc. increased its holdings in shares of Structure Therapeutics by 120.0% in 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 last quarter. Quarry LP purchased a new position in Structure Therapeutics during the second quarter worth approximately $79,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of 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 purchasing an additional 1,420 shares during the last quarter. Finally, Dearborn Partners LLC acquired a new stake in shares of Structure Therapeutics in the third quarter valued at $202,000. 91.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on GPCR shares. Morgan Stanley began coverage on Structure Therapeutics in a report on Monday, September 23rd. They issued an “overweight” rating and a $118.00 price objective on the stock. HC Wainwright initiated coverage on shares of Structure Therapeutics in a research report on Wednesday, December 4th. They set a “buy” rating and a $80.00 price objective for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 target price on shares of Structure Therapeutics in a research report on Monday, September 23rd. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $85.67.

Structure Therapeutics Price Performance

NASDAQ GPCR traded down $0.23 during mid-day trading on Tuesday, hitting $30.77. The stock had a trading volume of 158,083 shares, compared to its average volume of 782,784. Structure Therapeutics has a twelve month low of $26.61 and a twelve month high of $62.74. The firm’s 50 day moving average is $36.13 and its 200 day moving average is $39.19. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -41.89 and a beta of -3.41.

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.