Gyre Therapeutics (NASDAQ:GYRE - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Thursday,Zacks.com reports.
GYRE has been the subject of several other reports. HC Wainwright assumed coverage on Gyre Therapeutics in a research report on Tuesday, August 26th. They issued a "buy" rating and a $18.00 target price for the company. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Gyre Therapeutics in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group assumed coverage on Gyre Therapeutics in a research report on Friday, October 10th. They issued a "buy" rating and a $16.00 target price for the company. Three research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Gyre Therapeutics has a consensus rating of "Hold" and an average target price of $17.00.
Check Out Our Latest Research Report on GYRE
Gyre Therapeutics Trading Down 5.0%
Shares of NASDAQ:GYRE opened at $8.30 on Thursday. The business has a 50-day moving average price of $7.76 and a 200 day moving average price of $8.13. The company has a market capitalization of $799.37 million, a price-to-earnings ratio of 830.83 and a beta of 1.78. Gyre Therapeutics has a 12-month low of $6.11 and a 12-month high of $19.00.
Gyre Therapeutics (NASDAQ:GYRE - Get Free Report) last released its earnings results on Monday, August 11th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The firm had revenue of $26.77 million during the quarter, compared to analyst estimates of $30.80 million. Gyre Therapeutics had a net margin of 4.08% and a return on equity of 7.67%.
Hedge Funds Weigh In On Gyre Therapeutics
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its stake in shares of Gyre Therapeutics by 28.8% in the 2nd quarter. Bank of America Corp DE now owns 6,277 shares of the company's stock valued at $46,000 after buying an additional 1,402 shares during the period. JPMorgan Chase & Co. lifted its stake in Gyre Therapeutics by 84.6% during the second quarter. JPMorgan Chase & Co. now owns 6,461 shares of the company's stock worth $47,000 after purchasing an additional 2,961 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Gyre Therapeutics by 77.8% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,413 shares of the company's stock worth $54,000 after purchasing an additional 3,244 shares during the last quarter. Advantage Alpha Capital Partners LP lifted its stake in Gyre Therapeutics by 54.0% during the first quarter. Advantage Alpha Capital Partners LP now owns 13,663 shares of the company's stock worth $105,000 after purchasing an additional 4,790 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Gyre Therapeutics by 18.7% during 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 during the last quarter. Hedge funds and other institutional investors 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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