Short Interest in Structure Therapeutics Inc. (NASDAQ:GPCR) Increases By 5.8%

Structure Therapeutics Inc. (NASDAQ:GPCR) saw a large increase in short interest in January. As of January 15th, there was short interest totalling 10,750,000 shares, an increase of 5.8% from the December 31st total of 10,160,000 shares. Approximately 19.8% of the company’s shares are sold short. Based on an average trading volume of 824,600 shares, the days-to-cover ratio is presently 13.0 days.

Structure Therapeutics Stock Down 5.4 %

GPCR opened at $28.35 on Tuesday. The firm has a market cap of $1.62 billion, a P/E ratio of -38.31 and a beta of -2.76. The business’s fifty day simple moving average is $29.65 and its 200 day simple moving average is $35.18. Structure Therapeutics has a 52 week low of $23.50 and a 52 week high of $62.74.

Institutional Trading of Structure Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB purchased a new stake in Structure Therapeutics in the 4th quarter valued at about $4,475,000. Principal Financial Group Inc. grew its holdings in Structure Therapeutics by 45.1% in the 4th quarter. Principal Financial Group Inc. now owns 791,134 shares of the company’s stock valued at $21,456,000 after buying an additional 245,775 shares during the period. Money Concepts Capital Corp grew its holdings in Structure Therapeutics by 4.2% in the 4th quarter. Money Concepts Capital Corp now owns 21,031 shares of the company’s stock valued at $570,000 after buying an additional 848 shares during the period. CCG Wealth Management LLC purchased a new stake in Structure Therapeutics in the 4th quarter valued at about $4,068,000. Finally, Spire Wealth Management purchased a new stake in Structure Therapeutics in the 4th quarter valued at about $243,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GPCR shares. Stifel Nicolaus started coverage on Structure Therapeutics in a research report on Wednesday, January 8th. They issued a “buy” rating and a $50.00 target price for the company. JMP Securities restated a “market outperform” rating and set a $91.00 target price on shares of Structure Therapeutics in a research note on Wednesday, December 18th. Finally, HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Structure Therapeutics in a research note on Thursday, December 19th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $81.29.

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.