Gyre Therapeutics (NASDAQ:GYRE) Trading Up 14.3% - Should You Buy?

Gyre Therapeutics, Inc. (NASDAQ:GYRE - Get Free Report) shares rose 14.3% during trading on Monday . The stock traded as high as $10.86 and last traded at $10.89. Approximately 64,824 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 94,744 shares. The stock had previously closed at $9.53.

Analyst Upgrades and Downgrades

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

Gyre Therapeutics Price Performance

The stock's 50 day simple moving average is $9.07 and its two-hundred day simple moving average is $10.92. The firm has a market cap of $1.01 billion, a P/E ratio of 535.75 and a beta of 1.90.

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

Institutional Investors Weigh In On Gyre Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. increased its position in shares of Gyre Therapeutics by 22.1% during the first quarter. SBI Securities Co. Ltd. now owns 123,629 shares of the company's stock valued at $954,000 after acquiring an additional 22,390 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Gyre Therapeutics by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 114,566 shares of the company's stock valued at $1,386,000 after acquiring an additional 918 shares in the last quarter. Northern Trust Corp increased its position in shares of Gyre Therapeutics by 9.1% during the fourth quarter. Northern Trust Corp now owns 103,382 shares of the company's stock valued at $1,251,000 after acquiring an additional 8,624 shares in the last quarter. American Century Companies Inc. purchased a new stake in Gyre Therapeutics in the first quarter worth approximately $184,000. Finally, Bank of New York Mellon Corp boosted its holdings in 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 purchasing an additional 2,596 shares during the last quarter. Institutional investors own 23.99% of the company's stock.

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.