Gyre Therapeutics (NASDAQ:GYRE) Shares Down 8.9% – Here’s What Happened

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s share price traded down 8.9% during trading on Thursday. The company traded as low as $6.55 and last traded at $6.46. Approximately 124,822 shares were traded during mid-day trading, an increase of 23% from the average session volume of 101,307 shares. The stock had previously closed at $7.09.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Gyre Therapeutics in a report on Friday, August 7th. Wall Street Zen downgraded shares of Gyre Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. Finally, Zacks Research raised shares of Gyre Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Gyre Therapeutics Stock Performance

The company has a market cap of $720.91 million, a price-to-earnings ratio of -30.81 and a beta of 1.89. The firm has a fifty day moving average price of $6.80 and a 200 day moving average price of $7.01.

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

Hedge Funds Weigh In On Gyre Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in Gyre Therapeutics by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 43,144 shares of the company’s stock valued at $301,000 after buying an additional 1,941 shares during the period. SBI Securities Co. Ltd. boosted its stake in shares of Gyre Therapeutics by 1.8% during the 3rd quarter. SBI Securities Co. Ltd. now owns 169,717 shares of the company’s stock worth $1,244,000 after acquiring an additional 2,967 shares during the period. Bank of America Corp DE bought a new position in shares of Gyre Therapeutics during the 2nd quarter worth approximately $83,000. Dimensional Fund Advisors LP increased its holdings in shares of Gyre Therapeutics by 131.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 25,268 shares of the company’s stock worth $176,000 after acquiring an additional 14,365 shares during the last quarter. Finally, Deutsche Bank AG bought a new stake in Gyre Therapeutics in the 2nd quarter valued at $118,000. Institutional investors own 23.99% of the company’s stock.

About Gyre Therapeutics

Gyre Therapeutics, Inc is a biopharmaceutical company focused on developing therapies for fibrotic diseases, including pulmonary and liver fibrosis. The company’s lead development program is F351, also known as hydronidone, an investigational small-molecule therapy designed to inhibit the progression of fibrosis.

F351 is being evaluated in clinical programs for idiopathic pulmonary fibrosis and liver fibrosis associated with chronic liver disease, including nonalcoholic steatohepatitis-related fibrosis.