Gyre Therapeutics (NASDAQ:GYRE) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Gyre Therapeutics from “sell” to “hold,” but broader analyst sentiment remains negative, with an average “Reduce” rating and a $16 price target.
• Gyre shares opened at $7.11, up 1.6%, with a market capitalization of approximately $793 million. The company reported a quarterly loss of $0.12 per share, missing estimates, despite revenue exceeding expectations.
• Institutional ownership stands at 23.99%, with BlackRock purchasing approximately $6.55 million in shares and Dimensional Fund Advisors increasing its position by 131.8%.

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

A number of other equities research analysts also recently issued reports on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Gyre Therapeutics in a research report on Friday, August 7th. Zacks Research downgraded shares of Gyre Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $16.00.

Gyre Therapeutics Trading Up 1.6%

Shares of NASDAQ GYRE opened at $7.11 on Friday. Gyre Therapeutics has a one year low of $5.44 and a one year high of $9.42. The business has a 50-day moving average price of $6.74 and a two-hundred day moving average price of $6.75. The firm has a market capitalization of $792.84 million, a PE ratio of -33.86 and a beta of 1.89.

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

Hedge Funds Weigh In On Gyre Therapeutics

A number of institutional investors have recently made changes to their positions in GYRE. Bank of America Corp DE acquired a new position in Gyre Therapeutics during the 2nd quarter valued at $83,000. BlackRock Inc. acquired a new stake in shares of Gyre Therapeutics during the 2nd quarter worth approximately $6,550,000. Deutsche Bank AG bought a new stake in shares of Gyre Therapeutics during the second quarter valued at approximately $118,000. Bank of New York Mellon Corp bought a new stake in shares of Gyre Therapeutics during the second quarter valued at approximately $414,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of 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. 23.99% of the stock is currently owned by institutional investors.

About Gyre Therapeutics

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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