Gyre Therapeutics (NASDAQ:GYRE) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Gyre Therapeutics from “strong sell” to “hold,” while the broader analyst consensus remains “hold” with a $16.00 target price.
• Gyre shares opened at $7.04, down 0.6%, and remain unprofitable. The company reported a quarterly loss of $0.12 per share, missing estimates, despite revenue of $29.11 million exceeding expectations.
• Institutional ownership stands at 23.99%, with BlackRock initiating a roughly $6.55 million position and Dimensional Fund Advisors increasing its stake by 131.8%.

Gyre Therapeutics (NASDAQ:GYRE - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Tuesday, Zacks reports.

Several other research analysts have also issued reports on GYRE. Wall Street Zen upgraded Gyre Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, October 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Gyre Therapeutics in a report on Friday, August 7th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $16.00.

Gyre Therapeutics Trading Down 0.6%

Shares of GYRE opened at $7.04 on Tuesday. Gyre Therapeutics has a twelve month low of $5.44 and a twelve month high of $9.42. The company has a market cap of $785.03 million, a P/E ratio of -33.52 and a beta of 1.89. The company's fifty day simple moving average is $6.82 and its 200-day simple moving average is $6.74.

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). The firm had revenue of $29.11 million for the quarter, compared to analysts' expectations of $26.49 million. Gyre Therapeutics had a negative return on equity of 6.57% and a negative net margin of 15.47%. Analysts predict that Gyre Therapeutics will post -0.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gyre Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Gyre Therapeutics in the 2nd quarter worth about $6,550,000. Bank of America Corp DE bought a new stake in shares of Gyre Therapeutics during the second quarter valued at approximately $83,000. Deutsche Bank AG purchased a new stake in shares of Gyre Therapeutics in the second quarter valued at approximately $118,000. Bank of New York Mellon Corp purchased a new stake in shares of Gyre Therapeutics in the second quarter valued at approximately $414,000. Finally, 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 worth $176,000 after purchasing an additional 14,365 shares in the last quarter. Institutional investors own 23.99% of the company's stock.

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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