Gyre Therapeutics (NASDAQ:GYRE) Shares Gap Up - Here's Why

Key Points

• Gyre Therapeutics shares gapped up from a previous close of $7.89 to open at $8.35, currently trading at $8.21 with a market capitalization of $792.15 million.
• Analysts are mixed on the stock, with HC Wainwright and Jefferies giving it a "buy" rating and targets of $18.00 and $16.00, while Zacks Research downgraded it to a "strong sell."
• The company reported quarterly earnings showing revenue of $26.77 million, falling short of the estimated $30.80 million, and missed EPS expectations at $0.02 compared to the consensus of $0.03.

Gyre Therapeutics, Inc. (NASDAQ:GYRE - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $7.89, but opened at $8.35. Gyre Therapeutics shares last traded at $8.21, with a volume of 1,666 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GYRE shares. HC Wainwright started coverage on shares of Gyre Therapeutics in a research report on Tuesday, August 26th. They issued a "buy" rating and a $18.00 target price on the stock. Weiss Ratings reiterated a "sell (d)" rating on shares of Gyre Therapeutics in a research report on Wednesday, October 8th. Jefferies Financial Group began coverage on shares of Gyre Therapeutics in a research report on Friday, October 10th. They set a "buy" rating and a $16.00 price target on the stock. Finally, Zacks Research lowered shares of Gyre Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Thursday, October 16th. Three analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $17.00.

Gyre Therapeutics Stock Performance

The firm's 50 day moving average is $7.79 and its two-hundred day moving average is $8.16. The stock has a market capitalization of $792.15 million, a PE ratio of 823.32 and a beta of 1.78.

Gyre Therapeutics (NASDAQ:GYRE - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Gyre Therapeutics had a return on equity of 7.67% and a net margin of 4.08%.The firm had revenue of $26.77 million for the quarter, compared to analyst estimates of $30.80 million.

Institutional Trading of Gyre Therapeutics

Large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new stake in shares of Gyre Therapeutics in the 3rd quarter worth $38,000. Bank of America Corp DE increased its holdings 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 purchasing an additional 1,402 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Gyre Therapeutics by 84.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,461 shares of the company's stock valued at $47,000 after purchasing an additional 2,961 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Gyre Therapeutics by 77.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,413 shares of the company's stock valued at $54,000 after purchasing an additional 3,244 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP increased its holdings in shares of Gyre Therapeutics by 54.0% in the 1st quarter. Advantage Alpha Capital Partners LP now owns 13,663 shares of the company's stock valued at $105,000 after purchasing an additional 4,790 shares in the last quarter. Institutional investors and hedge funds own 23.99% of the company's stock.

Gyre Therapeutics Company Profile

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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