Gyre Therapeutics (NASDAQ:GYRE) Stock Price Up 10.5% – Here’s Why

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s stock price shot up 10.5% during mid-day trading on Wednesday . The stock traded as high as $9.84 and last traded at $9.47. 118,942 shares changed hands during mid-day trading, an increase of 22% from the average session volume of 97,304 shares. The stock had previously closed at $8.57.

Analyst Ratings Changes

Separately, Noble Financial began coverage on Gyre Therapeutics in a research report on Tuesday, March 11th. They issued an “outperform” rating on the stock.

Gyre Therapeutics Price Performance

The company has a 50-day moving average price of $11.29 and a 200-day moving average price of $12.25.

Gyre Therapeutics (NASDAQ:GYRE) last issued its quarterly earnings results on Monday, March 17th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). Gyre Therapeutics had a negative net margin of 84.57% and a negative return on equity of 118.43%. The business had revenue of $27.87 million during the quarter, compared to analyst estimates of $23.50 million.

Insider Buying and Selling

In related news, President Songjiang Ma sold 2,000 shares of Gyre Therapeutics stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $12.70, for a total transaction of $25,400.00. Following the sale, the president now directly owns 2,928,467 shares of the company’s stock, valued at $37,191,530.90. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 36,054 shares of company stock valued at $409,057 over the last three months. 19.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Gyre Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in Gyre Therapeutics by 40.4% during the fourth quarter. Bank of America Corp DE now owns 6,937 shares of the company’s stock worth $84,000 after buying an additional 1,996 shares in the last quarter. Northern Trust Corp boosted its holdings in Gyre Therapeutics by 9.1% during the fourth quarter. Northern Trust Corp now owns 103,382 shares of the company’s stock valued at $1,251,000 after purchasing an additional 8,624 shares in the last quarter. Barclays PLC boosted its holdings in Gyre Therapeutics by 13.5% during the fourth quarter. Barclays PLC now owns 10,543 shares of the company’s stock valued at $128,000 after purchasing an additional 1,255 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Gyre Therapeutics by 29.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,016 shares of the company’s stock valued at $49,000 after purchasing an additional 913 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Gyre Therapeutics by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 114,566 shares of the company’s stock valued at $1,386,000 after purchasing an additional 918 shares in the last quarter. 23.99% of the stock is owned by institutional investors and hedge funds.

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.