Short Interest in Structure Therapeutics Inc. (NASDAQ:GPCR) Grows By 9.9%

Structure Therapeutics Inc. (NASDAQ:GPCR) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 4,110,000 shares, a growth of 9.9% from the March 31st total of 3,740,000 shares. Currently, 9.9% of the company’s shares are sold short. Based on an average daily trading volume, of 553,100 shares, the days-to-cover ratio is currently 7.4 days.

Structure Therapeutics Stock Performance

Shares of GPCR opened at $39.32 on Thursday. The company has a market capitalization of $1.83 billion and a P/E ratio of -47.37. Structure Therapeutics has a one year low of $21.79 and a one year high of $75.02. The stock has a 50-day moving average price of $39.41 and a 200 day moving average price of $47.19.

Structure Therapeutics (NASDAQ:GPCR) last issued its quarterly earnings results on Friday, March 8th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.04. As a group, equities research analysts forecast that Structure Therapeutics will post -0.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. TD Asset Management Inc raised its stake in Structure Therapeutics by 109.3% during the third quarter. TD Asset Management Inc now owns 152,176 shares of the company’s stock valued at $7,673,000 after buying an additional 79,467 shares in the last quarter. Jennison Associates LLC raised its stake in Structure Therapeutics by 5.2% during the third quarter. Jennison Associates LLC now owns 420,479 shares of the company’s stock valued at $21,201,000 after buying an additional 20,699 shares in the last quarter. Platinum Investment Management Ltd. raised its stake in Structure Therapeutics by 249.7% during the third quarter. Platinum Investment Management Ltd. now owns 52,461 shares of the company’s stock valued at $2,645,000 after buying an additional 37,461 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Structure Therapeutics during the 3rd quarter worth approximately $7,611,000. Finally, Picton Mahoney Asset Management acquired a new stake in shares of Structure Therapeutics during the 3rd quarter worth approximately $116,000. Hedge funds and other institutional investors own 91.78% of the company’s stock.

Analyst Upgrades and Downgrades

GPCR has been the topic of several research reports. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price objective on shares of Structure Therapeutics in a research note on Thursday, April 18th. Lifesci Capital reaffirmed an “outperform” rating on shares of Structure Therapeutics in a research report on Tuesday, February 27th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $85.71.

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.