Gyre Therapeutics (NASDAQ:GYRE) Stock Price Up 4.7% – Here’s Why

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s stock price was up 4.7% during trading on Tuesday . The company traded as high as $8.17 and last traded at $8.08. Approximately 50,206 shares changed hands during trading, a decline of 45% from the average daily volume of 91,134 shares. The stock had previously closed at $7.72.

Analysts Set New Price Targets

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

Gyre Therapeutics Trading Up 11.8 %

The firm has a market cap of $831.27 million, a PE ratio of 177.60 and a beta of 2.03. The business’s 50-day simple moving average is $9.93 and its 200 day simple moving average is $11.46.

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

Institutional Investors Weigh In On Gyre Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in shares of Gyre Therapeutics by 15,083.3% during the first quarter. GAMMA Investing LLC now owns 1,822 shares of the company’s stock valued at $140,000 after buying an additional 1,810 shares during the last quarter. Bank of America Corp DE grew its holdings in Gyre Therapeutics by 40.4% in the fourth 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 increased its position in shares of 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 in the last quarter. Barclays PLC lifted its holdings in shares of Gyre Therapeutics by 13.5% during the 4th quarter. Barclays PLC now owns 10,543 shares of the company’s stock valued at $128,000 after purchasing an additional 1,255 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Gyre Therapeutics by 29.4% in the 4th quarter. Wells Fargo & Company MN now owns 4,016 shares of the company’s stock worth $49,000 after purchasing an additional 913 shares in the last quarter. 23.99% of the stock is currently owned by hedge funds and other institutional investors.

Gyre Therapeutics Company Profile

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.