Short Interest in Structure Therapeutics Inc. (NASDAQ:GPCR) Drops By 6.9%

Structure Therapeutics Inc. (NASDAQ:GPCR) was the target of a significant drop in short interest in 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. Based on an average daily trading volume, of 851,000 shares, the days-to-cover ratio is presently 12.3 days. Currently, 19.0% of the company’s stock are sold short.

Wall Street Analyst Weigh In

GPCR has been the topic of a number of research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price target on shares of Structure Therapeutics in a research report on Monday. JMP Securities lowered their price objective 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. Finally, 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. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $84.63.

Institutional Investors Weigh In On Structure Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in Structure Therapeutics by 404.0% during the 4th quarter. Wellington Management Group LLP now owns 4,372,326 shares of the company’s stock worth $178,216,000 after purchasing an additional 3,504,747 shares during the last quarter. Avoro Capital Advisors LLC grew its stake in shares of Structure Therapeutics by 133.3% in the 4th quarter. Avoro Capital Advisors LLC now owns 2,333,333 shares of the company’s stock worth $95,107,000 after acquiring an additional 1,333,333 shares in the last quarter. RA Capital Management L.P. increased its stake in Structure Therapeutics by 210.2% in the 1st quarter. RA Capital Management L.P. now owns 1,510,362 shares of the company’s stock valued at $64,734,000 after buying an additional 1,023,530 shares during the last quarter. Capital International Investors purchased a new stake in shares of Structure Therapeutics during the fourth quarter valued at approximately $34,647,000. Finally, Capital Research Global Investors raised its stake in shares of Structure Therapeutics by 182.3% during the 4th quarter. Capital Research Global Investors now owns 973,535 shares of the company’s stock worth $39,681,000 after purchasing an additional 628,687 shares during the period. 91.78% of the stock is owned by institutional investors.

Structure Therapeutics Stock Performance

Shares of GPCR opened at $38.26 on Thursday. The firm has a market capitalization of $1.78 billion, a PE ratio of -49.69 and a beta of -3.52. Structure Therapeutics has a 52-week low of $26.61 and a 52-week high of $75.02. The stock has a 50 day simple moving average of $38.09 and a 200 day simple moving average of $39.64.

Structure Therapeutics (NASDAQ:GPCR) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.05. Equities research analysts predict that Structure Therapeutics will post -0.86 EPS for the current fiscal 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.