Gyre Therapeutics (NASDAQ:GYRE) Shares Gap Down on Disappointing Earnings

Gyre Therapeutics, Inc. (NASDAQ:GYRE - Get Free Report) shares gapped down prior to trading on Tuesday following a dissappointing earnings announcement. The stock had previously closed at $12.28, but opened at $11.50. Gyre Therapeutics shares last traded at $10.07, with a volume of 177,811 shares changing hands.

The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.03). The firm had revenue of $27.87 million during the quarter, compared to analyst estimates of $23.50 million. Gyre Therapeutics had a negative net margin of 84.57% and a negative return on equity of 118.43%.

Analysts Set New Price Targets

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

Insider Transactions at Gyre Therapeutics

In other Gyre Therapeutics news, President Songjiang Ma sold 2,000 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $12.70, for a total value of $25,400.00. Following the completion of the sale, the president now directly owns 2,928,467 shares of the company's stock, valued at $37,191,530.90. This represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 38,054 shares of company stock worth $431,857. Insiders own 19.52% of the company's stock.

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Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its position in Gyre Therapeutics by 392.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 113,648 shares of the company's stock worth $1,425,000 after buying an additional 90,557 shares in the last quarter. Advantage Alpha Capital Partners LP acquired a new stake in shares of Gyre Therapeutics during the 3rd quarter worth approximately $334,000. FMR LLC acquired a new stake in shares of Gyre Therapeutics during the 3rd quarter worth approximately $47,000. State Street Corp increased its position in shares of Gyre Therapeutics by 8.8% during the third quarter. State Street Corp now owns 104,490 shares of the company's stock valued at $1,310,000 after purchasing an additional 8,412 shares during the period. Finally, 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 valued at $116,000 after purchasing an additional 6,855 shares in the last quarter. Institutional investors own 23.99% of the company's stock.

Gyre Therapeutics Price Performance

The firm has a 50-day moving average of $11.31 and a 200 day moving average of $12.20.

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.