Gyre Therapeutics (NASDAQ:GYRE) Stock Price Down 8.9% - Here's Why

Key Points

• Gyre Therapeutics shares fell 8.9% to $6.46, with trading volume 23% above its average; the stock is below both its 50-day and 200-day moving averages.
• Investor sentiment is weak: analysts’ ratings include one Hold and one Sell, resulting in a consensus “Reduce” rating. The company also missed quarterly EPS expectations, reporting a loss of $0.12 per share versus an expected loss of $0.06.
• Institutional investors own 23.99% of the company, with BlackRock establishing a roughly $6.55 million position and Dimensional Fund Advisors increasing its holdings by 131.8%.

Gyre Therapeutics, Inc. (NASDAQ:GYRE - Get Free Report) shares traded down 8.9% on Thursday. The stock traded as low as $6.55 and last traded at $6.46. 124,822 shares changed hands during mid-day trading, an increase of 23% from the average daily volume of 101,307 shares. The stock had previously closed at $7.09.

Analysts Set New Price Targets

Several brokerages have issued reports on GYRE. Weiss Ratings reiterated a "sell (d-)" rating on shares of Gyre Therapeutics in a research report on Friday, August 7th. Zacks Research raised shares of Gyre Therapeutics from a "strong sell" rating to a "hold" rating in a report on Tuesday, October 6th. Finally, Wall Street Zen cut shares of Gyre Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, October 17th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Reduce".

Gyre Therapeutics Trading Down 8.8%

The company has a market cap of $720.91 million, a P/E ratio of -30.81 and a beta of 1.89. The firm's 50 day moving average price is $6.80 and its 200-day moving average price is $7.01.

Gyre Therapeutics (NASDAQ:GYRE - Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). Gyre Therapeutics had a negative return on equity of 6.57% and a negative net margin of 15.47%. The company had revenue of $29.11 million during the quarter, compared to the consensus estimate of $26.49 million. Analysts predict that Gyre Therapeutics, Inc. will post -0.61 earnings per share for the current fiscal year.

Institutional Trading of Gyre Therapeutics

A number of large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Gyre Therapeutics during the second quarter worth about $6,550,000. SBI Securities Co. Ltd. grew its position in shares of Gyre Therapeutics by 1.8% in the 3rd quarter. SBI Securities Co. Ltd. now owns 169,717 shares of the company's stock valued at $1,244,000 after purchasing an additional 2,967 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Gyre Therapeutics in the second quarter valued at approximately $414,000. Dimensional Fund Advisors LP boosted its holdings in shares of Gyre Therapeutics by 131.8% in the first quarter. Dimensional Fund Advisors LP now owns 25,268 shares of the company's stock valued at $176,000 after buying an additional 14,365 shares during the period. Finally, Deutsche Bank AG bought a new stake in shares of Gyre Therapeutics during the second quarter worth $118,000. Institutional investors own 23.99% of the company's stock.

Gyre Therapeutics Company Profile

Gyre Therapeutics, Inc is a biopharmaceutical company focused on developing therapies for fibrotic diseases, including pulmonary and liver fibrosis. The company's lead development program is F351, also known as hydronidone, an investigational small-molecule therapy designed to inhibit the progression of fibrosis.

F351 is being evaluated in clinical programs for idiopathic pulmonary fibrosis and liver fibrosis associated with chronic liver disease, including nonalcoholic steatohepatitis-related fibrosis.

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