Gyre Therapeutics (NASDAQ:GYRE) Trading 14.3% Higher – Still a Buy?

Shares of Gyre Therapeutics, Inc. (NASDAQ:GYRE) rose 14.3% on Monday . The stock traded as high as $10.86 and last traded at $10.89. Approximately 64,824 shares changed hands during trading, a decline of 32% from the average daily volume of 94,744 shares. The stock had previously closed at $9.53.

Wall Street Analyst Weigh In

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

Gyre Therapeutics Stock Up 13.6%

The firm has a 50-day moving average of $9.05 and a two-hundred day moving average of $10.95. The company has a market capitalization of $1.02 billion, a PE ratio of 541.50 and a beta of 1.90.

Gyre Therapeutics (NASDAQ:GYRE) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. The business had revenue of $22.06 million during the quarter, compared to analysts’ expectations of $28.40 million. Gyre Therapeutics had a negative net margin of 84.57% and a negative return on equity of 118.43%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in 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 purchasing an additional 913 shares during the period. Bank of America Corp DE increased its stake in shares of Gyre Therapeutics by 40.4% during the fourth quarter. Bank of America Corp DE now owns 6,937 shares of the company’s stock worth $84,000 after buying an additional 1,996 shares during the period. Barclays PLC grew its holdings in 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. Bank of New York Mellon Corp increased its position in shares of Gyre Therapeutics by 18.7% in the 1st quarter. Bank of New York Mellon Corp now owns 16,492 shares of the company’s stock valued at $127,000 after purchasing an additional 2,596 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Gyre Therapeutics by 15,083.3% during the 1st quarter. GAMMA Investing LLC now owns 1,822 shares of the company’s stock worth $140,000 after purchasing an additional 1,810 shares during the last quarter. 23.99% of the stock is currently owned by institutional investors and hedge funds.

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.