Gyre Therapeutics (NASDAQ:GYRE) Shares Gap Down - Time to Sell?

Shares of Gyre Therapeutics, Inc. (NASDAQ:GYRE - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $11.21, but opened at $9.26. Gyre Therapeutics shares last traded at $9.74, with a volume of 965,629 shares changing hands.

Analyst Upgrades and Downgrades

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

Gyre Therapeutics Trading Down 7.3%

The stock has a market capitalization of $885.08 million, a PE ratio of 472.00 and a beta of 1.90. The firm has a 50 day moving average price of $8.97 and a 200 day moving average price of $10.62.

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

Institutional Investors Weigh In On Gyre Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. increased its holdings in Gyre Therapeutics by 22.1% in the 1st quarter. SBI Securities Co. Ltd. now owns 123,629 shares of the company's stock worth $954,000 after acquiring an additional 22,390 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Gyre Therapeutics by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 114,566 shares of the company's stock worth $1,386,000 after purchasing an additional 918 shares in the last quarter. Northern Trust Corp increased its stake in shares of Gyre Therapeutics by 9.1% in the fourth quarter. Northern Trust Corp now owns 103,382 shares of the company's stock worth $1,251,000 after purchasing an additional 8,624 shares in the last quarter. American Century Companies Inc. purchased a new stake in Gyre Therapeutics in the 1st quarter worth $184,000. Finally, Bank of New York Mellon Corp increased its stake in Gyre Therapeutics by 18.7% in the 1st quarter. Bank of New York Mellon Corp now owns 16,492 shares of the company's stock worth $127,000 after buying an additional 2,596 shares in the last quarter. 23.99% of the stock is owned by hedge funds and other institutional investors.

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.