Short Interest in Gyre Therapeutics, Inc. (NASDAQ:GYRE) Drops By 42.7%

Gyre Therapeutics, Inc. (NASDAQ:GYRE) was the target of a large decrease in short interest in May. As of May 31st, there was short interest totalling 1,420,000 shares, a decrease of 42.7% from the May 15th total of 2,480,000 shares. Based on an average daily volume of 250,900 shares, the short-interest ratio is currently 5.7 days. Approximately 8.7% of the shares of the stock are short sold.

Analysts Set New Price Targets

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

Gyre Therapeutics Stock Performance

Gyre Therapeutics stock traded up $0.04 during midday trading on Monday, reaching $8.03. 165,385 shares of the stock were exchanged, compared to its average volume of 123,643. Gyre Therapeutics has a 52 week low of $6.11 and a 52 week high of $19.00. The firm has a market cap of $752.88 million, a PE ratio of 401.50 and a beta of 1.79. The company’s fifty day moving average is $9.08 and its 200-day moving average is $10.19.

Gyre Therapeutics (NASDAQ:GYRE) last released its quarterly earnings results on Friday, May 9th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $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 $22.06 million for the quarter, compared to analysts’ expectations of $28.40 million.

Hedge Funds Weigh In On Gyre Therapeutics

A number of institutional investors have recently added to or reduced their stakes in GYRE. SBI Securities Co. Ltd. grew its holdings in shares of Gyre Therapeutics by 22.1% during the first quarter. SBI Securities Co. Ltd. now owns 123,629 shares of the company’s stock worth $954,000 after purchasing an additional 22,390 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Gyre Therapeutics by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 114,566 shares of the company’s stock valued at $1,386,000 after purchasing an additional 918 shares during the last quarter. Northern Trust Corp grew its stake in Gyre Therapeutics by 9.1% in the 4th quarter. Northern Trust Corp now owns 103,382 shares of the company’s stock worth $1,251,000 after buying an additional 8,624 shares in the last quarter. American Century Companies Inc. bought a new position in shares of Gyre Therapeutics in the 1st quarter worth $184,000. Finally, Bank of New York Mellon Corp raised its position in shares of Gyre Therapeutics by 18.7% during the 1st quarter. Bank of New York Mellon Corp now owns 16,492 shares of the company’s stock valued at $127,000 after buying an additional 2,596 shares in the last quarter. 23.99% of the stock is currently owned by institutional investors.

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.