Gyre Therapeutics (NASDAQ:GYRE) Upgraded at Wall Street Zen

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

GYRE has been the topic of several other reports. Zacks Research lowered shares of Gyre Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Gyre Therapeutics in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Gyre Therapeutics presently has an average rating of “Reduce” and an average target price of $16.00.

Gyre Therapeutics Stock Up 3.4%

GYRE stock opened at $7.35 on Friday. The company’s fifty day simple moving average is $6.77 and its 200 day simple moving average is $6.74. Gyre Therapeutics has a 12-month low of $5.44 and a 12-month high of $9.42. The firm has a market cap of $819.60 million, a price-to-earnings ratio of -35.00 and a beta of 1.89.

Gyre Therapeutics (NASDAQ:GYRE) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $26.49 million. Research analysts expect that Gyre Therapeutics will post -0.61 earnings per share for the current year.

Hedge Funds Weigh In On Gyre Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Gyre Therapeutics during the second quarter valued at $6,550,000. Bank of New York Mellon Corp purchased a new position in shares of Gyre Therapeutics during the 2nd quarter valued at $414,000. Dimensional Fund Advisors LP grew 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 worth $176,000 after acquiring an additional 14,365 shares during the period. Deutsche Bank AG bought a new position in shares of Gyre Therapeutics during the 2nd quarter worth $118,000. Finally, Bank of America Corp DE purchased a new stake in Gyre Therapeutics in the 2nd quarter worth about $83,000. 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, 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.