Gyre Therapeutics, Inc. (NASDAQ:GYRE) Short Interest Down 42.7% in May

Gyre Therapeutics, Inc. (NASDAQ:GYRE - Get Free Report) was the target of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 1,420,000 shares, a drop of 42.7% from the May 15th total of 2,480,000 shares. Currently, 8.7% of the company's shares are sold short. Based on an average daily volume of 250,900 shares, the days-to-cover ratio is currently 5.7 days.

Gyre Therapeutics Stock Up 3.5%

Shares of Gyre Therapeutics stock traded up $0.28 during trading on Wednesday, hitting $8.37. The stock had a trading volume of 112,380 shares, compared to its average volume of 123,872. Gyre Therapeutics has a 1 year low of $6.11 and a 1 year high of $19.00. The stock has a 50 day simple moving average of $9.10 and a 200 day simple moving average of $10.14. The company has a market capitalization of $784.77 million, a PE ratio of 417.96 and a beta of 1.79.

Gyre Therapeutics (NASDAQ:GYRE - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. Gyre Therapeutics had a net margin of 7.20% and a return on equity of 9.73%. The firm had revenue of $22.06 million for the quarter, compared to analysts' expectations of $28.40 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GYRE. Advantage Alpha Capital Partners LP lifted its stake in Gyre Therapeutics by 54.0% in the 1st quarter. Advantage Alpha Capital Partners LP now owns 13,663 shares of the company's stock worth $105,000 after acquiring an additional 4,790 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Gyre Therapeutics in the 1st quarter valued at about $184,000. SBI Securities Co. Ltd. increased its holdings in shares of Gyre Therapeutics by 22.1% in the 1st quarter. SBI Securities Co. Ltd. now owns 123,629 shares of the company's stock valued at $954,000 after purchasing an additional 22,390 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Gyre Therapeutics by 18.7% in the first quarter. Bank of New York Mellon Corp now owns 16,492 shares of the company's stock worth $127,000 after purchasing an additional 2,596 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Gyre Therapeutics by 15,083.3% during the first quarter. GAMMA Investing LLC now owns 1,822 shares of the company's stock worth $140,000 after purchasing an additional 1,810 shares during the period. Hedge funds and other institutional investors own 23.99% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Noble Financial initiated coverage on Gyre Therapeutics in a research note on Tuesday, March 11th. They issued an "outperform" rating on the stock.

About Gyre Therapeutics

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.