Gyre Therapeutics (NASDAQ:GYRE) Stock Price Down 8.9% – Should You Sell?

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. 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 report on Tuesday, October 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Gyre Therapeutics in a research report on Friday, August 7th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Gyre Therapeutics Stock Performance

The firm has a market capitalization of $507.37 million, a PE ratio of -21.67 and a beta of 1.89. The firm has a fifty day moving average of $6.73 and a 200 day moving average of $6.99.

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

Institutional Investors Weigh In On Gyre Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Gyre Therapeutics during the second quarter worth about $6,550,000. SBI Securities Co. Ltd. lifted its stake in shares of Gyre Therapeutics by 1.8% in the third 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 in the last quarter. Bank of New York Mellon Corp purchased a new position in Gyre Therapeutics in the second quarter valued at about $414,000. Dimensional Fund Advisors LP boosted its holdings in Gyre Therapeutics by 131.8% in the first quarter. Dimensional Fund Advisors LP now owns 25,268 shares of the company’s stock valued at $176,000 after purchasing an additional 14,365 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in Gyre Therapeutics during the 2nd quarter valued at approximately $118,000. Hedge funds and other institutional investors own 23.99% of the company’s stock.

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.