Gyre Therapeutics (NASDAQ:GYRE) Sees Strong Trading Volume - Should You Buy?

Gyre Therapeutics, Inc. (NASDAQ:GYRE - Get Free Report) shares saw strong trading volume on Wednesday . 134,385 shares were traded during trading, an increase of 19% from the previous session's volume of 112,698 shares.The stock last traded at $10.14 and had previously closed at $10.18.

Analyst Upgrades and Downgrades

Separately, Noble Financial assumed coverage on Gyre Therapeutics in a report on Tuesday, March 11th. They set an "outperform" rating for the company.

Gyre Therapeutics Stock Down 4.1%

The business has a fifty day simple moving average of $8.97 and a 200 day simple moving average of $10.62. The company has a market cap of $915.08 million, a price-to-earnings ratio of 489.75 and a beta of 1.90.

Gyre Therapeutics (NASDAQ:GYRE - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $22.06 million during the quarter, compared to the consensus estimate of $28.40 million. Gyre Therapeutics had a negative return on equity of 118.43% and a negative net margin of 84.57%.

Institutional Trading of Gyre Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GYRE. SBI Securities Co. Ltd. purchased a new stake in shares of Gyre Therapeutics during the 4th quarter worth about $1,225,000. Barclays PLC grew its holdings in shares of Gyre Therapeutics by 13.5% during the 4th quarter. Barclays PLC now owns 10,543 shares of the company's stock worth $128,000 after purchasing an additional 1,255 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Gyre Therapeutics by 29.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,016 shares of the company's stock worth $49,000 after purchasing an additional 913 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Gyre Therapeutics by 11.1% during the 4th quarter. Bank of New York Mellon Corp now owns 13,896 shares of the company's stock worth $168,000 after purchasing an additional 1,389 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Gyre Therapeutics by 40.4% during the 4th quarter. Bank of America Corp DE now owns 6,937 shares of the company's stock worth $84,000 after purchasing an additional 1,996 shares during the period. Hedge funds and other institutional investors own 23.99% of the company's 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.

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