Gyre Therapeutics (NASDAQ:GYRE) Shares Up 10.8% - What's Next?

Key Points

• Gyre Therapeutics' shares rose 10.8% during trading on Wednesday, reaching a last traded price of $8.88, despite a significant decline in trading volume compared to average daily activity.
• Wall Street analysts maintain a “Moderate Buy” rating for Gyre Therapeutics, with a consensus average price target of $17.00, following recent reports from several financial firms.
• The company reported a quarterly revenue of $26.77 million, missing consensus estimates of $30.80 million, and had an earnings per share (EPS) of $0.02, slightly below expectations.

Gyre Therapeutics, Inc. (NASDAQ:GYRE - Get Free Report) was up 10.8% during trading on Wednesday . The stock traded as high as $8.78 and last traded at $8.88. Approximately 34,281 shares changed hands during trading, a decline of 77% from the average daily volume of 152,013 shares. The stock had previously closed at $8.01.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GYRE. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Gyre Therapeutics in a report on Wednesday, October 8th. HC Wainwright started coverage on shares of Gyre Therapeutics in a research report on Tuesday, August 26th. They set a "buy" rating and a $18.00 target price on the stock. Finally, Jefferies Financial Group started coverage on shares of Gyre Therapeutics in a research note on Friday, October 10th. They set a "buy" rating and a $16.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $17.00.

Gyre Therapeutics Stock Up 8.5%

The firm has a market cap of $836.93 million, a P/E ratio of 876.38 and a beta of 1.78. The business has a fifty day moving average of $7.67 and a 200 day moving average of $8.11.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GYRE. Bank of America Corp DE grew its position in Gyre Therapeutics by 28.8% in the 2nd quarter. Bank of America Corp DE now owns 6,277 shares of the company's stock worth $46,000 after purchasing an additional 1,402 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Gyre Therapeutics by 77.8% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,413 shares of the company's stock valued at $54,000 after acquiring an additional 3,244 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Gyre Therapeutics by 84.6% in the second quarter. JPMorgan Chase & Co. now owns 6,461 shares of the company's stock worth $47,000 after buying an additional 2,961 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Gyre Therapeutics by 28.6% during the second quarter. Geode Capital Management LLC now owns 401,709 shares of the company's stock worth $2,953,000 after purchasing an additional 89,390 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its position in shares of Gyre Therapeutics by 87.9% in the second quarter. SBI Securities Co. Ltd. now owns 232,299 shares of the company's stock valued at $1,707,000 after purchasing an additional 108,670 shares during the period. 23.99% of the stock is owned by institutional investors.

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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