Gyre Therapeutics (NASDAQ:GYRE) Hits New 1-Year Low – Here’s What Happened

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $7.00 and last traded at $7.72, with a volume of 411920 shares. The stock had previously closed at $9.11.

Wall Street Analyst Weigh In

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

Gyre Therapeutics Stock Up 10.6 %

The company has a market cap of $663.71 million, a price-to-earnings ratio of 141.80 and a beta of 1.93. The business’s fifty day simple moving average is $10.93 and its two-hundred day simple moving average is $11.94.

Gyre Therapeutics (NASDAQ:GYRE) last posted its 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 company had revenue of $27.87 million during the quarter, compared to analysts’ expectations of $23.50 million.

Institutional Trading of Gyre Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC purchased a new position in Gyre Therapeutics during the 3rd quarter worth approximately $47,000. Wells Fargo & Company MN grew its position in shares of Gyre Therapeutics by 29.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,016 shares of the company’s stock worth $49,000 after acquiring an additional 913 shares during the last quarter. Bank of America Corp DE increased its holdings 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 acquiring an additional 1,996 shares during the period. Barclays PLC increased its holdings in shares of 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 acquiring an additional 6,855 shares during the period. Finally, Bank of New York Mellon Corp raised its position 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 purchasing an additional 1,389 shares during the last quarter. 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.