Gyre Therapeutics (NASDAQ:GYRE) Trading Up 4.9% – Here’s Why

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s stock price rose 4.9% during trading on Tuesday . The company traded as high as $11.30 and last traded at $11.27. Approximately 123,912 shares traded hands during trading, an increase of 71% from the average daily volume of 72,277 shares. The stock had previously closed at $10.74.

Gyre Therapeutics Stock Performance

The firm has a 50-day moving average price of $13.25 and a 200 day moving average price of $12.63.

Hedge Funds Weigh In On Gyre Therapeutics

Institutional investors have recently modified their holdings of the business. Rhumbline Advisers purchased a new position in Gyre Therapeutics in the second quarter valued at $123,000. Renaissance Technologies LLC purchased a new position in shares of Gyre Therapeutics in the 2nd quarter valued at about $166,000. WINTON GROUP Ltd acquired a new position in shares of Gyre Therapeutics during the second quarter worth about $220,000. Bank of New York Mellon Corp acquired a new stake in Gyre Therapeutics in the second quarter valued at approximately $218,000. Finally, Barclays PLC lifted its stake in Gyre Therapeutics by 281.8% in the third quarter. Barclays PLC now owns 9,288 shares of the company’s stock worth $116,000 after acquiring an additional 6,855 shares during the last quarter. Institutional investors and hedge funds own 23.99% of the company’s stock.

Gyre Therapeutics Company Profile

Gyre Therapeutics, Inc, a biopharmaceutical company, primarily focuses on the development and commercialization of Hydronidone for the treatment of Metabolic Dysfunction Associated Steatohepatitis in the United States. Its Hydronidone is also being evaluated for the treatment of liver fibrosis across a spectrum of chronic liver diseases.