Gyre Therapeutics (NASDAQ:GYRE) Shares Up 13.3% – Here’s What Happened

Gyre Therapeutics, Inc. (NASDAQ:GYRE) was up 13.3% on Tuesday . The stock traded as high as $8.59 and last traded at $8.64. Approximately 33,082 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 89,448 shares. The stock had previously closed at $7.62.

Analysts Set New Price Targets

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

Gyre Therapeutics Stock Down 2.0 %

The business’s 50 day simple moving average is $10.69 and its 200-day simple moving average is $11.78. The stock has a market capitalization of $699.28 million, a price-to-earnings ratio of 149.88 and a beta of 2.03.

Gyre Therapeutics (NASDAQ:GYRE) last announced its quarterly earnings data on Monday, March 17th. The company reported $0.01 earnings per share (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 the consensus estimate of $23.50 million.

Hedge Funds Weigh In On Gyre Therapeutics

A number of institutional investors have recently modified their holdings of GYRE. Wells Fargo & Company MN grew its position in Gyre Therapeutics by 29.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,016 shares of the company’s stock valued at $49,000 after acquiring an additional 913 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Gyre Therapeutics by 0.8% in the 4th 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 in the last quarter. Barclays PLC grew its holdings in shares of Gyre Therapeutics by 13.5% during the 4th quarter. Barclays PLC now owns 10,543 shares of the company’s stock valued at $128,000 after purchasing an additional 1,255 shares during the last quarter. Bank of New York Mellon Corp increased its position 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 purchasing an additional 1,389 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Gyre Therapeutics by 15,083.3% in the 1st quarter. GAMMA Investing LLC now owns 1,822 shares of the company’s stock valued at $140,000 after purchasing an additional 1,810 shares during the last quarter. Institutional investors and hedge funds own 23.99% of the company’s stock.

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.