Gyre Therapeutics (NASDAQ:GYRE) Stock Price Up 14.5% After Better-Than-Expected Earnings

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s stock price rose 14.5% during mid-day trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $4.57 and last traded at $4.59. Approximately 132,803 shares changed hands during mid-day trading, an increase of 25% from the average daily volume of 106,568 shares. The stock had previously closed at $4.01.

The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.19. The company had revenue of $32.93 million during the quarter, compared to the consensus estimate of $28.40 million. Gyre Therapeutics had a negative net margin of 15.47% and a negative return on equity of 6.57%.

Analyst Upgrades and Downgrades

GYRE has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Gyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. Zacks Research raised shares of Gyre Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Gyre Therapeutics in a report on Wednesday. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

Institutional Trading of Gyre Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Gyre Therapeutics in the 2nd quarter valued at about $6,550,000. Bank of New York Mellon Corp acquired a new position in shares of Gyre Therapeutics during the 2nd quarter valued at about $414,000. Deutsche Bank AG acquired a new position in shares of Gyre Therapeutics during the 2nd quarter valued at about $118,000. Dimensional Fund Advisors LP increased its stake 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 valued at $176,000 after acquiring an additional 14,365 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of Gyre Therapeutics during the 2nd quarter worth about $83,000. 23.99% of the stock is owned by institutional investors and hedge funds.

Gyre Therapeutics Stock Performance

The company’s fifty day moving average price is $6.55 and its two-hundred day moving average price is $6.92. The firm has a market capitalization of $511.83 million, a PE ratio of -21.56 and a beta of 2.14.

Gyre Therapeutics Company Profile

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.