Gyre Therapeutics (NASDAQ:GYRE) Shares Gap Up - Should You Buy?

Gyre Therapeutics, Inc. (NASDAQ:GYRE - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $8.68, but opened at $10.20. Gyre Therapeutics shares last traded at $11.06, with a volume of 650,562 shares changing hands.

Wall Street Analysts Forecast Growth

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

Gyre Therapeutics Stock Down 3.8%

The company has a market capitalization of $853.20 million, a price-to-earnings ratio of 455.00 and a beta of 1.90. The business's 50-day moving average is $8.96 and its 200-day moving average is $10.51.

Gyre Therapeutics (NASDAQ:GYRE - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.03 earnings per share for the quarter, hitting analysts' consensus estimates 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 net margin of 84.57% and a negative return on equity of 118.43%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Advantage Alpha Capital Partners LP raised its position in shares of Gyre Therapeutics by 54.0% in the first 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 during the period. American Century Companies Inc. acquired a new position in shares of Gyre Therapeutics in the first quarter worth about $184,000. SBI Securities Co. Ltd. raised its position in shares of Gyre Therapeutics by 22.1% in the first 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 during the period. Bank of New York Mellon Corp raised 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 acquiring an additional 2,596 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Gyre Therapeutics by 15,083.3% in the first quarter. GAMMA Investing LLC now owns 1,822 shares of the company's stock worth $140,000 after acquiring an additional 1,810 shares during the period. 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.