Gyre Therapeutics (NASDAQ:GYRE) Trading Down 5.9% - Time to Sell?

Gyre Therapeutics, Inc. (NASDAQ:GYRE - Get Free Report) fell 5.9% on Tuesday . The company traded as low as $7.22 and last traded at $7.16. 51,687 shares were traded during trading, a decline of 60% from the average session volume of 129,657 shares. The stock had previously closed at $7.61.

Gyre Therapeutics Price Performance

The business has a 50-day simple moving average of $8.66 and a two-hundred day simple moving average of $9.63. The stock has a market cap of $681.92 million, a price-to-earnings ratio of 363.63 and a beta of 1.72.

Gyre Therapeutics (NASDAQ:GYRE - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.03 earnings per share for the quarter, hitting analysts' consensus estimates of $0.03. The firm had revenue of $22.06 million for the quarter, compared to the consensus estimate of $28.40 million. Gyre Therapeutics had a return on equity of 9.73% and a net margin of 7.20%.

Hedge Funds Weigh In On Gyre Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in GYRE. Bank of New York Mellon Corp grew its position in shares of Gyre Therapeutics by 11.1% in the fourth quarter. Bank of New York Mellon Corp now owns 13,896 shares of the company's stock valued at $168,000 after purchasing an additional 1,389 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Gyre Therapeutics by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 114,566 shares of the company's stock valued at $1,386,000 after purchasing an additional 918 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Gyre Therapeutics by 29.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,016 shares of the company's stock valued at $49,000 after purchasing an additional 913 shares during the last quarter. Barclays PLC grew its position in shares of Gyre Therapeutics by 13.5% in the fourth quarter. Barclays PLC now owns 10,543 shares of the company's stock valued at $128,000 after purchasing an additional 1,255 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Gyre Therapeutics by 9.1% in the fourth quarter. Northern Trust Corp now owns 103,382 shares of the company's stock valued at $1,251,000 after purchasing an additional 8,624 shares during the last quarter. Institutional investors and hedge funds 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.