Gyre Therapeutics (NASDAQ:GYRE) Stock Price Down 7.9% - Time to Sell?

Gyre Therapeutics, Inc. (NASDAQ:GYRE - Get Free Report)'s stock price traded down 7.9% during mid-day trading on Monday . The company traded as low as $8.33 and last traded at $8.35. 158,238 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 174,125 shares. The stock had previously closed at $9.07.

Analyst Ratings Changes

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

Gyre Therapeutics Stock Performance

The company has a market cap of $788.50 million, a PE ratio of 420.50 and a beta of 1.90. The stock's 50-day simple moving average is $8.91 and its 200 day simple moving average is $10.36.

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

Institutional Trading of Gyre Therapeutics

Several hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its position in 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 in the last quarter. Wells Fargo & Company MN lifted its stake 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 period. Bank of America Corp DE lifted its stake in shares of Gyre Therapeutics by 40.4% in the fourth quarter. Bank of America Corp DE now owns 6,937 shares of the company's stock valued at $84,000 after purchasing an additional 1,996 shares during the period. Barclays PLC boosted its holdings in Gyre Therapeutics by 13.5% during the fourth quarter. Barclays PLC now owns 10,543 shares of the company's stock worth $128,000 after buying an additional 1,255 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP grew its position in Gyre Therapeutics by 54.0% during the first quarter. Advantage Alpha Capital Partners LP now owns 13,663 shares of the company's stock worth $105,000 after buying an additional 4,790 shares during the period. 23.99% of the stock is owned by institutional investors and hedge funds.

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.