Short Interest in Gyre Therapeutics, Inc. (NASDAQ:GYRE) Declines By 16.1%

Gyre Therapeutics, Inc. (NASDAQ:GYRE - Get Free Report) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 376,600 shares, a decline of 16.1% from the October 15th total of 448,700 shares. Based on an average daily volume of 48,100 shares, the days-to-cover ratio is currently 7.8 days. Approximately 1.6% of the company's shares are short sold.

Gyre Therapeutics Price Performance

Shares of GYRE traded down $0.72 during trading hours on Friday, hitting $13.12. The company had a trading volume of 83,351 shares, compared to its average volume of 68,721. The business has a fifty day moving average of $13.83 and a 200-day moving average of $13.00. Gyre Therapeutics has a 12 month low of $8.26 and a 12 month high of $30.40.

Gyre Therapeutics (NASDAQ:GYRE - Get Free Report) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $25.23 million for the quarter. Gyre Therapeutics had a negative net margin of 60.75% and a negative return on equity of 119.54%. Equities analysts forecast that Gyre Therapeutics will post -0.45 EPS for the current year.

Institutional Investors Weigh In On Gyre Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp bought a new stake in shares of Gyre Therapeutics in the second quarter worth $218,000. Rhumbline Advisers bought a new position in shares of Gyre Therapeutics in the second quarter worth about $123,000. WINTON GROUP Ltd bought a new position in shares of Gyre Therapeutics during the 2nd quarter worth $220,000. Renaissance Technologies LLC purchased a new position in shares of Gyre Therapeutics in the 2nd quarter valued at $166,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Gyre Therapeutics by 392.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 113,648 shares of the company's stock valued at $1,425,000 after purchasing an additional 90,557 shares during the last quarter. Hedge funds and other 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.