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

Structure Therapeutics Inc. (NASDAQ:GPCR) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 10,750,000 shares, a growth of 5.8% from the December 31st total of 10,160,000 shares. Currently, 19.8% of the shares of the stock are short sold. Based on an average daily volume of 824,600 shares, the short-interest ratio is currently 13.0 days.

Structure Therapeutics Stock Performance

GPCR stock opened at $28.35 on Tuesday. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -38.31 and a beta of -2.76. The firm has a 50-day simple moving average of $29.65 and a two-hundred day simple moving average of $35.18. Structure Therapeutics has a one year low of $23.50 and a one year high of $62.74.

Hedge Funds Weigh In On Structure Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Handelsbanken Fonder AB acquired a new position in Structure Therapeutics in the 4th quarter worth approximately $4,475,000. Principal Financial Group Inc. lifted its position in shares of Structure Therapeutics by 45.1% during 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 in the last quarter. Money Concepts Capital Corp lifted 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 purchasing an additional 848 shares in the last quarter. CCG Wealth Management LLC purchased a new position in Structure Therapeutics in the 4th quarter valued at $4,068,000. Finally, Spire Wealth Management purchased a new position in Structure Therapeutics in the 4th quarter valued at $243,000. 91.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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