Gyre Therapeutics (NASDAQ:GYRE) Trading 4% Higher - Still a Buy?

Gyre Therapeutics, Inc. (NASDAQ:GYRE - Get Free Report) shot up 4% on Tuesday . The stock traded as high as $8.41 and last traded at $8.35. 30,546 shares changed hands during trading, a decline of 75% from the average session volume of 123,283 shares. The stock had previously closed at $8.03.

Analyst Upgrades and Downgrades

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

Gyre Therapeutics Stock Down 3.1%

The company's fifty day moving average is $9.15 and its two-hundred day moving average is $10.09. The stock has a market cap of $756.64 million, a price-to-earnings ratio of 403.70 and a beta of 1.79.

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

Institutional Trading of Gyre Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in shares of Gyre Therapeutics by 11.1% during the 4th quarter. Bank of New York Mellon Corp now owns 13,896 shares of the company's stock worth $168,000 after acquiring an additional 1,389 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Gyre Therapeutics during the fourth quarter worth approximately $1,225,000. Charles Schwab Investment Management Inc. boosted its holdings in 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 in the last quarter. Wells Fargo & Company MN boosted its holdings in 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 in the last quarter. Finally, Barclays PLC increased its stake in 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. 23.99% of the stock is currently 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.