Gyre Therapeutics (NASDAQ:GYRE) Trading 13.9% Higher - Here's What Happened

Gyre Therapeutics, Inc. (NASDAQ:GYRE - Get Free Report) rose 13.9% on Tuesday . The company traded as high as $11.69 and last traded at $11.77. Approximately 21,147 shares traded hands during trading, a decline of 71% from the average daily volume of 72,706 shares. The stock had previously closed at $10.33.

Analyst Upgrades and Downgrades

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

Gyre Therapeutics Stock Performance

The stock has a 50 day simple moving average of $11.24 and a two-hundred day simple moving average of $12.32.

Insider Buying and Selling at Gyre Therapeutics

In related news, President Songjiang Ma sold 2,000 shares of Gyre Therapeutics stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $12.70, for a total value of $25,400.00. Following the completion of the transaction, the president now owns 2,928,467 shares in the company, valued at $37,191,530.90. The trade was a 0.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 34,054 shares of company stock worth $383,057. Insiders own 19.52% of the company's stock.

Hedge Funds Weigh In On Gyre Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE increased its stake in shares of Gyre Therapeutics by 40.4% in the 4th quarter. Bank of America Corp DE now owns 6,937 shares of the company's stock valued at $84,000 after purchasing an additional 1,996 shares in the last quarter. Northern Trust Corp increased its stake in shares of Gyre Therapeutics by 9.1% in the 4th quarter. Northern Trust Corp now owns 103,382 shares of the company's stock valued at $1,251,000 after purchasing an additional 8,624 shares in the last quarter. Barclays PLC increased its stake in shares of Gyre Therapeutics by 13.5% in the 4th quarter. Barclays PLC now owns 10,543 shares of the company's stock valued at $128,000 after purchasing an additional 1,255 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Gyre Therapeutics by 29.4% in the 4th quarter. Wells Fargo & Company MN now owns 4,016 shares of the company's stock valued at $49,000 after purchasing an additional 913 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Gyre Therapeutics by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 114,566 shares of the company's stock valued at $1,386,000 after purchasing an additional 918 shares in the last quarter. Hedge funds and other institutional investors 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.