Gyre Therapeutics (NASDAQ:GYRE) Sets New 1-Year Low – Here’s Why

Gyre Therapeutics, Inc. (NASDAQ:GYRE) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $7.00 and last traded at $7.72, with a volume of 411920 shares traded. The stock had previously closed at $9.11.

Analyst Upgrades and Downgrades

Separately, Noble Financial assumed coverage on shares of Gyre Therapeutics in a research report on Tuesday, March 11th. They issued an “outperform” rating for the company.

Gyre Therapeutics Price Performance

The firm has a market cap of $722.68 million, a price-to-earnings ratio of 154.40 and a beta of 1.93. The business has a 50-day moving average of $11.09 and a 200-day moving average of $12.03.

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

Institutional Trading of Gyre Therapeutics

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

About Gyre Therapeutics

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.