Gyre Therapeutics (NASDAQ:GYRE) Shares Down 5.9% – Here’s What Happened

Shares of Gyre Therapeutics, Inc. (NASDAQ:GYRE) fell 5.9% during mid-day trading on Thursday . The company traded as low as $12.13 and last traded at $12.15. 16,987 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 68,424 shares. The stock had previously closed at $12.91.

Gyre Therapeutics Price Performance

The firm has a 50-day moving average of $13.72 and a 200 day moving average of $12.92.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. FMR LLC acquired a new stake in Gyre Therapeutics in the third quarter worth about $47,000. Barclays PLC lifted its stake in shares of Gyre Therapeutics by 281.8% in the 3rd quarter. Barclays PLC now owns 9,288 shares of the company’s stock worth $116,000 after acquiring an additional 6,855 shares during the period. Rhumbline Advisers bought a new position in shares of Gyre Therapeutics in the second quarter valued at approximately $123,000. Renaissance Technologies LLC acquired a new position in shares of Gyre Therapeutics during the second quarter valued at approximately $166,000. Finally, Bank of New York Mellon Corp bought a new stake in Gyre Therapeutics during the second quarter worth approximately $218,000. 23.99% of the stock is owned by institutional investors and hedge funds.

Gyre Therapeutics Company Profile

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.