Zacks Research Downgrades Gyre Therapeutics (NASDAQ:GYRE) to Strong Sell

Gyre Therapeutics (NASDAQ:GYRE) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

GYRE has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Gyre Therapeutics in a research note on Friday, August 7th. Wall Street Zen lowered Gyre Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, Gyre Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $17.00.

Gyre Therapeutics Stock Performance

GYRE opened at $7.15 on Tuesday. Gyre Therapeutics has a one year low of $5.44 and a one year high of $9.42. The stock has a market capitalization of $797.30 million, a P/E ratio of -34.05 and a beta of 1.92. The business’s 50-day simple moving average is $6.38 and its 200-day simple moving average is $7.00.

Gyre Therapeutics (NASDAQ:GYRE) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). Gyre Therapeutics had a negative return on equity of 6.57% and a negative net margin of 15.47%.The business had revenue of $29.11 million for the quarter, compared to analyst estimates of $26.49 million. On average, equities research analysts forecast that Gyre Therapeutics will post -0.61 EPS for the current fiscal year.

Hedge Funds Weigh In On Gyre Therapeutics

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its holdings in Gyre Therapeutics by 28.8% in the 2nd quarter. Bank of America Corp DE now owns 6,277 shares of the company’s stock valued at $46,000 after acquiring an additional 1,402 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Gyre Therapeutics by 84.6% during the second quarter. JPMorgan Chase & Co. now owns 6,461 shares of the company’s stock worth $47,000 after purchasing an additional 2,961 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Gyre Therapeutics by 77.8% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,413 shares of the company’s stock worth $54,000 after purchasing an additional 3,244 shares during the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Gyre Therapeutics in the fourth quarter valued at $77,000. Finally, Wells Fargo & Company MN grew its position in shares of Gyre Therapeutics by 132.4% in the fourth quarter. Wells Fargo & Company MN now owns 12,919 shares of the company’s stock valued at $91,000 after purchasing an additional 7,361 shares during the period. Institutional investors and hedge funds own 23.99% of the company’s stock.

About Gyre Therapeutics

Gyre Therapeutics, Inc is a clinical-stage biotechnology company focused on discovering and developing small-molecule therapies that target lipid biology to treat a range of metabolic, inflammatory and neurodegenerative diseases. The company’s proprietary platform combines lipidomic profiling with drug discovery tools to identify compounds that selectively modulate membrane lipid composition and restore normal protein function in disease-relevant cells.

Gyre’s preclinical pipeline includes programs in nonalcoholic steatohepatitis (NASH), Alzheimer’s disease and autoimmune conditions, reflecting its strategy of applying a unified lipid-targeted approach across multiple therapeutic areas.