Gyre Therapeutics (NASDAQ:GYRE) Shares Down 5.9% - Here's What Happened

Gyre Therapeutics, Inc. (NASDAQ:GYRE - Get Free Report)'s stock price traded down 5.9% during mid-day trading on Monday . The stock traded as low as $8.77 and last traded at $8.71. 50,220 shares were traded during trading, a decline of 46% from the average session volume of 93,012 shares. The stock had previously closed at $9.26.

Wall Street Analyst Weigh In

Separately, Noble Financial began coverage on shares of Gyre Therapeutics in a research note on Tuesday, March 11th. They issued an "outperform" rating on the stock.

Gyre Therapeutics Stock Up 3.9 %

The company has a market capitalization of $861.97 million, a price-to-earnings ratio of 183.90 and a beta of 1.90. The company's 50 day simple moving average is $9.12 and its two-hundred day simple moving average is $11.05.

Gyre Therapeutics (NASDAQ:GYRE - Get Free Report) last posted its earnings results on Monday, March 17th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.03). The business had revenue of $27.87 million for the quarter, compared to analyst estimates of $23.50 million. Gyre Therapeutics had a negative net margin of 84.57% and a negative return on equity of 118.43%.

Institutional Trading of Gyre Therapeutics

Several large investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. lifted its stake 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 purchasing an additional 22,390 shares in the last quarter. Bank of New York Mellon Corp grew its holdings 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 valued at $127,000 after buying an additional 2,596 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Gyre Therapeutics by 15,083.3% in the 1st 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 last quarter. Bank of America Corp DE boosted its position 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 valued at $84,000 after acquiring an additional 1,996 shares during the last quarter. Finally, Northern Trust Corp increased its position in Gyre Therapeutics by 9.1% during 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 during the last quarter. 23.99% of the stock is currently owned by hedge funds and other 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.