Gyre Therapeutics (NASDAQ:GYRE) Trading Up 4% - Here's What Happened

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

Wall Street Analysts Forecast Growth

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

Gyre Therapeutics Stock Performance

The company's fifty day moving average is $9.10 and its two-hundred day moving average is $10.16. The company has a market cap of $768.35 million, a price-to-earnings ratio of 410.00 and a beta of 1.79.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its stake 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 buying an additional 1,389 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Gyre Therapeutics in the 4th quarter valued at approximately $1,225,000. Charles Schwab Investment Management Inc. increased its position in shares of Gyre Therapeutics by 0.8% during the 4th 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 lifted 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 worth $49,000 after buying an additional 913 shares in the last quarter. Finally, Barclays PLC increased its holdings in Gyre Therapeutics by 13.5% during the fourth quarter. Barclays PLC now owns 10,543 shares of the company's stock valued at $128,000 after buying an additional 1,255 shares during the period. Institutional investors own 23.99% of the company's stock.

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.

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