Gyre Therapeutics (NASDAQ:GYRE) Stock Rating Cut to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Gyre Therapeutics from “hold” to “sell,” while other coverage includes a “sell” rating from Weiss Ratings and a “hold” from Zacks Research. MarketBeat data shows an average rating of “Reduce.”
• Gyre shares were trading around $6.08, down 5%, with a market capitalization of approximately $678 million. The company reported a quarterly loss of $0.12 per share, missing estimates, though revenue of $29.11 million exceeded forecasts.
• Institutional ownership stands at 23.99%, with BlackRock establishing a roughly $6.55 million position and several other institutions recently acquiring or increasing stakes.

Gyre Therapeutics (NASDAQ:GYRE - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday, Wall Street Zen reports.

GYRE has been the subject of a number of other reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Gyre Therapeutics in a research note on Friday, August 7th. Zacks Research raised shares of Gyre Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Reduce".

Gyre Therapeutics Trading Down 5.0%

Shares of GYRE opened at $6.08 on Friday. The stock has a market cap of $677.98 million, a P/E ratio of -28.95 and a beta of 1.89. Gyre Therapeutics has a 1 year low of $5.44 and a 1 year high of $9.14. The stock's 50-day moving average price is $6.88 and its two-hundred day moving average price is $6.73.

Gyre Therapeutics (NASDAQ:GYRE - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.06). Gyre Therapeutics had a negative return on equity of 6.57% and a negative net margin of 15.47%. The business had revenue of $29.11 million for the quarter, compared to analyst estimates of $26.49 million. As a group, equities analysts forecast that Gyre Therapeutics will post -0.61 EPS for the current year.

Institutional Trading of Gyre Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in GYRE. BlackRock Inc. bought a new stake in Gyre Therapeutics during the second quarter worth about $6,550,000. Bank of New York Mellon Corp bought a new position in Gyre Therapeutics in the second quarter valued at approximately $414,000. Dimensional Fund Advisors LP grew its stake in Gyre Therapeutics by 131.8% in the first quarter. Dimensional Fund Advisors LP now owns 25,268 shares of the company's stock valued at $176,000 after purchasing an additional 14,365 shares in the last quarter. Deutsche Bank AG acquired a new position in shares of Gyre Therapeutics during the 2nd quarter worth approximately $118,000. Finally, Bank of America Corp DE acquired a new position in shares of Gyre Therapeutics during the 2nd quarter worth approximately $83,000. 23.99% of the stock is currently owned by institutional investors and hedge funds.

Gyre Therapeutics Company Profile

Gyre Therapeutics, Inc is a biopharmaceutical company focused on developing therapies for fibrotic diseases, with an emphasis on liver fibrosis and other serious chronic conditions. The company's research and development activities are centered on novel small-molecule treatments intended to address the underlying processes that cause excessive scar tissue formation.

Gyre's lead investigational product is F351, also known as hydronidone, a potential treatment for liver fibrosis. The therapy has been studied in China for hepatitis B virus-associated liver fibrosis and is also being evaluated in the United States for liver fibrosis associated with nonalcoholic steatohepatitis.

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