Gyre Therapeutics (NASDAQ:GYRE) Trading Up 13.9% – Here’s What Happened

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s share price rose 13.9% during mid-day trading on Tuesday . The stock traded as high as $11.69 and last traded at $11.77. Approximately 21,147 shares were traded during trading, a decline of 71% from the average daily volume of 72,706 shares. The stock had previously closed at $10.33.

Analyst Ratings Changes

Separately, Noble Financial assumed coverage on Gyre Therapeutics in a report on Tuesday. They set an “outperform” rating on the stock.

Gyre Therapeutics Trading Up 12.0 %

The company’s 50-day simple moving average is $11.26 and its two-hundred day simple moving average is $12.34.

Insider Activity at Gyre Therapeutics

In other Gyre Therapeutics news, President Songjiang Ma sold 2,000 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $12.70, for a total value of $25,400.00. Following the completion of the sale, the president now owns 2,928,467 shares in the company, valued at approximately $37,191,530.90. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 30,054 shares of company stock worth $342,277 in the last 90 days. Company insiders own 19.52% of the company’s stock.

Institutional Trading of Gyre Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of GYRE. FMR LLC bought a new position in Gyre Therapeutics in the third quarter worth approximately $47,000. Wells Fargo & Company MN lifted its position in shares of Gyre Therapeutics by 29.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,016 shares of the company’s stock valued at $49,000 after buying an additional 913 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Gyre Therapeutics by 40.4% during the 4th quarter. Bank of America Corp DE now owns 6,937 shares of the company’s stock valued at $84,000 after acquiring an additional 1,996 shares during the period. Barclays PLC increased its holdings in Gyre Therapeutics by 281.8% in 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. Finally, Bank of New York Mellon Corp raised its stake in Gyre Therapeutics by 11.1% during the 4th quarter. Bank of New York Mellon Corp now owns 13,896 shares of the company’s stock worth $168,000 after acquiring an additional 1,389 shares during the period. 23.99% of the stock is owned by hedge funds and other institutional investors.

Gyre Therapeutics Company Profile

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.