Gyre Therapeutics (NASDAQ:GYRE) Stock Price Up 13.3% - Still a Buy?

Gyre Therapeutics, Inc. (NASDAQ:GYRE - Get Free Report) shares were up 13.3% during mid-day trading on Tuesday . The company traded as high as $8.59 and last traded at $8.64. Approximately 33,082 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 89,448 shares. The stock had previously closed at $7.62.

Wall Street Analysts Forecast Growth

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

Gyre Therapeutics Stock Up 3.2 %

The company's fifty day simple moving average is $10.20 and its 200 day simple moving average is $11.55. The stock has a market capitalization of $703.96 million, a price-to-earnings ratio of 150.40 and a beta of 2.03.

Gyre Therapeutics (NASDAQ:GYRE - Get Free Report) last issued its quarterly earnings data 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). Gyre Therapeutics had a negative return on equity of 118.43% and a negative net margin of 84.57%. The company had revenue of $27.87 million for the quarter, compared to analyst estimates of $23.50 million.

Institutional Investors Weigh In On Gyre Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of GYRE. Wells Fargo & Company MN raised its stake in Gyre Therapeutics by 29.4% in the 4th quarter. Wells Fargo & Company MN now owns 4,016 shares of the company's stock worth $49,000 after purchasing an additional 913 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Gyre Therapeutics by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 114,566 shares of the company's stock worth $1,386,000 after purchasing an additional 918 shares during the period. Barclays PLC raised its position in shares of Gyre Therapeutics by 13.5% in 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 in the last quarter. Bank of New York Mellon Corp boosted 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 during the period. Finally, GAMMA Investing LLC grew its position in Gyre Therapeutics by 15,083.3% during the first quarter. GAMMA Investing LLC now owns 1,822 shares of the company's stock worth $140,000 after buying an additional 1,810 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.