Gyre Therapeutics (NASDAQ:GYRE) Stock Price Up 9.1% – What’s Next?

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s stock price was up 9.1% during mid-day trading on Tuesday . The company traded as high as $11.40 and last traded at $10.90. Approximately 23,407 shares were traded during trading, a decline of 68% from the average daily volume of 73,600 shares. The stock had previously closed at $9.99.

Gyre Therapeutics Stock Performance

The stock has a 50 day simple moving average of $13.01 and a 200 day simple moving average of $12.61.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC bought a new position in Gyre Therapeutics in the 3rd quarter valued at about $47,000. Barclays PLC boosted its position in shares of Gyre Therapeutics by 281.8% during 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 in the last quarter. State Street Corp increased its stake in Gyre Therapeutics by 8.8% in the third quarter. State Street Corp now owns 104,490 shares of the company’s stock valued at $1,310,000 after acquiring an additional 8,412 shares during the last quarter. Rhumbline Advisers acquired a new position in Gyre Therapeutics during the second quarter valued at approximately $123,000. Finally, Renaissance Technologies LLC bought a new stake in Gyre Therapeutics during the second quarter worth $166,000. Institutional investors and hedge funds own 23.99% of the company’s stock.

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.