Gyre Therapeutics (NASDAQ:GYRE) Stock Price Down 12.5% - Should You Sell?

Gyre Therapeutics, Inc. (NASDAQ:GYRE - Get Free Report) was down 12.5% on Monday . The stock traded as low as $8.11 and last traded at $7.97. Approximately 99,280 shares traded hands during trading, an increase of 17% from the average daily volume of 84,647 shares. The stock had previously closed at $9.11.

Analyst Upgrades and Downgrades

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

Gyre Therapeutics Stock Performance

The stock's 50 day moving average price is $10.85 and its 200 day moving average price is $11.91. The company has a market capitalization of $647.80 million, a P/E ratio of 138.40 and a beta of 1.93.

Gyre Therapeutics (NASDAQ:GYRE - Get Free Report) last issued its earnings results on Monday, March 17th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). The company had revenue of $27.87 million for the quarter, compared to the consensus estimate of $23.50 million. Gyre Therapeutics had a negative return on equity of 118.43% and a negative net margin of 84.57%.

Institutional Trading of Gyre Therapeutics

Several hedge funds have recently bought and sold shares of GYRE. Charles Schwab Investment Management Inc. lifted its stake in shares of Gyre Therapeutics by 392.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 113,648 shares of the company's stock valued at $1,425,000 after buying an additional 90,557 shares in the last quarter. FMR LLC bought a new position in Gyre Therapeutics in the 3rd quarter valued at about $47,000. State Street Corp increased its holdings in Gyre Therapeutics by 8.8% during the 3rd quarter. State Street Corp now owns 104,490 shares of the company's stock worth $1,310,000 after purchasing an additional 8,412 shares in the last quarter. Barclays PLC raised its stake in shares of Gyre Therapeutics by 281.8% in the third quarter. Barclays PLC now owns 9,288 shares of the company's stock worth $116,000 after purchasing an additional 6,855 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Gyre Therapeutics by 16.9% in the third quarter. Geode Capital Management LLC now owns 303,647 shares of the company's stock valued at $3,808,000 after purchasing an additional 43,840 shares in the last quarter. Institutional investors and hedge funds own 23.99% of the company's stock.

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About Gyre Therapeutics

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.