Gyre Therapeutics (NASDAQ:GYRE) Shares Up 4.7% – Still a Buy?

Shares of Gyre Therapeutics, Inc. (NASDAQ:GYRE) shot up 4.7% on Tuesday . The stock traded as high as $8.17 and last traded at $8.08. 50,206 shares changed hands during trading, a decline of 45% from the average session volume of 91,134 shares. The stock had previously closed at $7.72.

Analyst Ratings Changes

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

Gyre Therapeutics Stock Performance

The firm has a market capitalization of $831.27 million, a PE ratio of 177.60 and a beta of 2.03. The firm’s 50 day moving average price is $9.93 and its 200-day moving average price is $11.46.

Gyre Therapeutics (NASDAQ:GYRE) last issued its quarterly earnings results on Monday, March 17th. The company reported $0.01 EPS for the quarter, missing the consensus estimate 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 return on equity of 118.43% and a negative net margin of 84.57%.

Hedge Funds Weigh In On Gyre Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new position in shares of Gyre Therapeutics in the 4th quarter worth approximately $1,225,000. Geode Capital Management LLC increased its stake in Gyre Therapeutics by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 303,647 shares of the company’s stock worth $3,808,000 after buying an additional 43,840 shares during the period. Northern Trust Corp lifted its holdings in Gyre Therapeutics by 9.1% during the 4th quarter. Northern Trust Corp now owns 103,382 shares of the company’s stock worth $1,251,000 after buying an additional 8,624 shares in the last quarter. State Street Corp boosted its position in Gyre Therapeutics by 8.8% in the 3rd quarter. State Street Corp now owns 104,490 shares of the company’s stock valued at $1,310,000 after buying an additional 8,412 shares during the period. Finally, Barclays PLC grew its stake in shares of Gyre Therapeutics by 281.8% in the third 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. Hedge funds and other institutional investors own 23.99% of the company’s stock.

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.