Gyre Therapeutics (NASDAQ:GYRE) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Gyre Therapeutics (NASDAQ:GYRE) from a hold rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Gyre Therapeutics in a research report on Friday, August 7th. Zacks Research raised shares of Gyre Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Gyre Therapeutics currently has a consensus rating of “Reduce”.

Gyre Therapeutics Price Performance

Shares of GYRE stock opened at $6.09 on Friday. The company has a market cap of $679.10 million, a price-to-earnings ratio of -29.00 and a beta of 1.89. The stock has a 50 day simple moving average of $6.87 and a 200-day simple moving average of $6.72. Gyre Therapeutics has a 1-year low of $5.44 and a 1-year high of $9.14.

Gyre Therapeutics (NASDAQ:GYRE) last announced its earnings results on Friday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). Gyre Therapeutics had a negative net margin of 15.47% and a negative return on equity of 6.57%. The business had revenue of $29.11 million for the quarter, compared to analysts’ expectations of $26.49 million. Analysts anticipate that Gyre Therapeutics will post -0.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gyre Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of GYRE. BlackRock Inc. acquired a new position in Gyre Therapeutics during the second quarter worth about $6,550,000. Bank of America Corp DE purchased a new stake in Gyre Therapeutics during the 2nd quarter valued at about $83,000. Deutsche Bank AG purchased a new stake in Gyre Therapeutics during the 2nd quarter valued at about $118,000. Bank of New York Mellon Corp acquired a new stake in Gyre Therapeutics in the 2nd quarter valued at about $414,000. Finally, Dimensional Fund Advisors LP raised its holdings in Gyre Therapeutics by 131.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 25,268 shares of the company’s stock valued at $176,000 after acquiring an additional 14,365 shares during the last quarter. 23.99% of the stock is owned by hedge funds and other institutional investors.

About Gyre Therapeutics

Gyre Therapeutics, Inc is a biopharmaceutical company focused on developing therapies for fibrotic diseases, with an emphasis on liver fibrosis and other serious chronic conditions. The company’s research and development activities are centered on novel small-molecule treatments intended to address the underlying processes that cause excessive scar tissue formation.

Gyre’s lead investigational product is F351, also known as hydronidone, a potential treatment for liver fibrosis. The therapy has been studied in China for hepatitis B virus-associated liver fibrosis and is also being evaluated in the United States for liver fibrosis associated with nonalcoholic steatohepatitis.