Gyre Therapeutics (NASDAQ:GYRE) Shares Up 10.5% – What’s Next?

Gyre Therapeutics, Inc. (NASDAQ:GYRE) rose 10.5% during trading on Wednesday . The company traded as high as $9.84 and last traded at $9.47. Approximately 118,942 shares changed 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.

Wall Street Analysts Forecast Growth

Separately, Noble Financial assumed coverage on Gyre Therapeutics in a research report on Tuesday, March 11th. They set an “outperform” rating on the stock.

Gyre Therapeutics Stock Down 0.6 %

The firm has a 50 day simple moving average of $11.31 and a two-hundred day simple moving average of $12.23.

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

Insider Transactions at Gyre Therapeutics

In related news, President Songjiang Ma sold 2,000 shares of Gyre Therapeutics stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $12.70, for a total transaction of $25,400.00. Following the completion of the transaction, the president now directly owns 2,928,467 shares of the company’s stock, valued at approximately $37,191,530.90. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 36,054 shares of company stock valued at $411,597 in the last quarter. 19.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gyre Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in GYRE. SBI Securities Co. Ltd. acquired a new position in Gyre Therapeutics during the fourth quarter worth about $1,225,000. FMR LLC purchased a new position in shares of Gyre Therapeutics in the 3rd quarter valued at $47,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Gyre Therapeutics by 392.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 113,648 shares of the company’s stock valued at $1,425,000 after acquiring an additional 90,557 shares in the last quarter. State Street Corp boosted its position in Gyre Therapeutics by 8.8% during the 3rd quarter. State Street Corp now owns 104,490 shares of the company’s stock worth $1,310,000 after purchasing an additional 8,412 shares during the period. Finally, Barclays PLC lifted its stake in shares of Gyre Therapeutics by 281.8% during the third quarter. Barclays PLC now owns 9,288 shares of the company’s stock worth $116,000 after purchasing an additional 6,855 shares in the last quarter. 23.99% of the stock is currently owned by hedge funds and other institutional investors.

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.