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

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s stock price rose 10.5% during mid-day trading on Wednesday . The company traded as high as $7.11 and last traded at $7.08. Approximately 19,784 shares were traded during trading, a decline of 77% from the average daily volume of 86,861 shares. The stock had previously closed at $6.41.

Analyst Upgrades and Downgrades

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

Gyre Therapeutics Stock Performance

The company’s 50-day simple moving average is $11.00 and its 200 day simple moving average is $11.98. The company has a market cap of $690.86 million, a PE ratio of 144.18 and a beta of 1.93.

Gyre Therapeutics (NASDAQ:GYRE) last released its earnings results on Monday, March 17th. The company reported $0.01 EPS 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 made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Gyre Therapeutics by 392.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 113,648 shares of the company’s stock worth $1,425,000 after acquiring an additional 90,557 shares during the last quarter. FMR LLC acquired a new stake in shares of Gyre Therapeutics in the 3rd quarter valued at $47,000. State Street Corp grew its stake in shares of Gyre Therapeutics by 8.8% during the third quarter. State Street Corp now owns 104,490 shares of the company’s stock worth $1,310,000 after purchasing an additional 8,412 shares in the last quarter. Barclays PLC increased its holdings in Gyre Therapeutics by 281.8% in the third quarter. Barclays PLC now owns 9,288 shares of the company’s stock valued at $116,000 after buying an additional 6,855 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Gyre Therapeutics by 16.9% in the third quarter. Geode Capital Management LLC now owns 303,647 shares of the company’s stock valued at $3,808,000 after buying an additional 43,840 shares during the last quarter. 23.99% of the stock is currently owned by hedge funds and other institutional investors.

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.