Gyre Therapeutics (NASDAQ:GYRE) Stock Price Up 10.5% - What's Next?

Gyre Therapeutics, Inc. (NASDAQ:GYRE - Get Free Report)'s stock price rose 10.5% during mid-day trading on Wednesday . The company traded as high as $9.84 and last traded at $9.47. Approximately 118,942 shares traded hands during mid-day trading, an increase of 22% from the average daily volume of 97,304 shares. The stock had previously closed at $8.57.

Analyst Upgrades and Downgrades

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

Gyre Therapeutics Stock Performance

The firm has a fifty day moving average price of $11.31 and a 200 day moving average price of $12.20. The company has a market cap of $908.97 million, a price-to-earnings ratio of 194.20 and a beta of 1.93.

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

Insider Activity at Gyre Therapeutics

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

Remove Ads

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GYRE. FMR LLC bought a new position in Gyre Therapeutics during the third quarter worth $47,000. Wells Fargo & Company MN boosted its holdings in shares of Gyre Therapeutics by 29.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,016 shares of the company's stock worth $49,000 after buying an additional 913 shares during the period. Bank of America Corp DE boosted its holdings in shares of Gyre Therapeutics by 40.4% during the 4th quarter. Bank of America Corp DE now owns 6,937 shares of the company's stock worth $84,000 after buying an additional 1,996 shares during the period. Barclays PLC grew its stake in Gyre Therapeutics by 281.8% in the 3rd quarter. Barclays PLC now owns 9,288 shares of the company's stock valued at $116,000 after buying an additional 6,855 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Gyre Therapeutics by 11.1% in the 4th quarter. Bank of New York Mellon Corp now owns 13,896 shares of the company's stock valued at $168,000 after acquiring an additional 1,389 shares during the period. 23.99% of the stock is owned by institutional investors and hedge funds.

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.