Gyre Therapeutics (NASDAQ:GYRE) Stock Price Down 7.8% – Here’s Why

by · The Markets Daily

Shares of Gyre Therapeutics, Inc. (NASDAQ:GYRE – Get Free Report) were down 7.8% during trading on Friday . The stock traded as low as $12.65 and last traded at $12.76. Approximately 26,772 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 68,420 shares. The stock had previously closed at $13.84.

Gyre Therapeutics Price Performance

The company’s 50 day simple moving average is $13.81 and its 200 day simple moving average is $13.02.

Gyre Therapeutics (NASDAQ:GYRE – Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported $0.01 EPS for the quarter. Gyre Therapeutics had a negative net margin of 60.75% and a negative return on equity of 119.54%. The firm had revenue of $25.23 million during the quarter. Sell-side analysts forecast that Gyre Therapeutics, Inc. will post -0.45 EPS for the current year.

Institutional Investors Weigh In On Gyre Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in GYRE. Charles Schwab Investment Management Inc. lifted its position 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 worth $1,425,000 after buying an additional 90,557 shares during the last quarter. Advantage Alpha Capital Partners LP purchased a new stake in Gyre Therapeutics in the third quarter valued at $334,000. WINTON GROUP Ltd acquired a new position in Gyre Therapeutics in the second quarter valued at $220,000. Bank of New York Mellon Corp purchased a new position in shares of Gyre Therapeutics during the second quarter worth about $218,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Gyre Therapeutics during the second quarter worth about $166,000. Institutional investors and hedge funds own 23.99% of the company’s stock.

About Gyre Therapeutics

(Get Free Report)

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.

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