Gyre Therapeutics (NASDAQ:GYRE) Trading Down 7.8% – What’s Next?

Gyre Therapeutics, Inc. (NASDAQ:GYRE) fell 7.8% during trading on Friday . The company traded as low as $12.65 and last traded at $12.76. 26,772 shares changed hands during trading, a decline of 61% from the average session volume of 68,420 shares. The stock had previously closed at $13.84.

Gyre Therapeutics Price Performance

The firm’s fifty day moving average price is $13.83 and its 200 day moving average price is $12.98.

Institutional Trading of Gyre Therapeutics

A number of hedge funds have recently bought and sold shares of GYRE. FMR LLC purchased a new stake in shares of Gyre Therapeutics during the third quarter valued at about $47,000. Barclays PLC raised its stake in shares of Gyre Therapeutics by 281.8% during the 3rd quarter. Barclays PLC now owns 9,288 shares of the company’s stock worth $116,000 after acquiring an additional 6,855 shares in the last quarter. State Street Corp boosted its stake in Gyre Therapeutics by 8.8% in the third quarter. State Street Corp now owns 104,490 shares of the company’s stock valued at $1,310,000 after acquiring an additional 8,412 shares in the last quarter. Rhumbline Advisers purchased a new position in Gyre Therapeutics in the second quarter worth $123,000. Finally, Renaissance Technologies LLC purchased a new position in Gyre Therapeutics in the second quarter worth $166,000. Hedge funds and other institutional investors 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.