Gyre Therapeutics (NASDAQ:GYRE) Trading Down 11.9% – Should You Sell?

Shares of Gyre Therapeutics, Inc. (NASDAQ:GYRE) dropped 11.9% during trading on Wednesday . The stock traded as low as $6.35 and last traded at $6.38. Approximately 83,101 shares changed hands during trading, a decline of 8% from the average daily volume of 90,296 shares. The stock had previously closed at $7.24.

Wall Street Analyst Weigh In

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

Gyre Therapeutics Trading Up 3.2 %

The firm has a market capitalization of $703.96 million, a PE ratio of 150.40 and a beta of 2.03. The firm’s fifty day moving average price is $10.29 and its 200 day moving average price is $11.59.

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

Hedge Funds Weigh In On Gyre Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in Gyre Therapeutics in the fourth quarter valued at approximately $1,225,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Gyre Therapeutics by 392.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 113,648 shares of the company’s stock valued at $1,425,000 after purchasing an additional 90,557 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Gyre Therapeutics by 16.9% in the 3rd quarter. Geode Capital Management LLC now owns 303,647 shares of the company’s stock valued at $3,808,000 after purchasing an additional 43,840 shares during the last quarter. Northern Trust Corp boosted its holdings in Gyre Therapeutics by 9.1% in 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. Finally, State Street Corp boosted its holdings in Gyre Therapeutics by 8.8% in the third quarter. State Street Corp now owns 104,490 shares of the company’s stock worth $1,310,000 after purchasing an additional 8,412 shares in the last quarter. Institutional investors and hedge funds own 23.99% of the company’s stock.

About Gyre Therapeutics

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.