Gyre Therapeutics (NASDAQ:GYRE) Stock Price Up 10.5% – Here’s Why

Gyre Therapeutics, Inc. (NASDAQ:GYRE) shot up 10.5% on Wednesday . The company traded as high as $9.84 and last traded at $9.47. 118,942 shares changed hands during trading, an increase of 22% from the average session volume of 97,304 shares. The stock had previously closed at $8.57.

Wall Street Analyst Weigh In

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

Gyre Therapeutics Stock Up 9.7 %

The business’s 50 day moving average price is $11.29 and its 200-day moving average price is $12.25.

Gyre Therapeutics (NASDAQ:GYRE) last posted its earnings results on Monday, March 17th. The company reported $0.01 earnings per share (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 firm had revenue of $27.87 million during the quarter, compared to the consensus estimate of $23.50 million.

Insider Buying and Selling

In related news, President Songjiang Ma sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $12.70, for a total value of $25,400.00. Following the completion of the transaction, the president now owns 2,928,467 shares in the company, valued at $37,191,530.90. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 36,054 shares of company stock worth $409,057 in the last quarter. Insiders own 19.52% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its holdings in Gyre Therapeutics by 392.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 113,648 shares of the company’s stock worth $1,425,000 after acquiring an additional 90,557 shares during the period. Advantage Alpha Capital Partners LP acquired a new stake in Gyre Therapeutics during the 3rd quarter worth $334,000. FMR LLC acquired a new stake in Gyre Therapeutics during the 3rd quarter worth $47,000. State Street Corp grew its holdings in Gyre Therapeutics by 8.8% during the 3rd quarter. State Street Corp now owns 104,490 shares of the company’s stock worth $1,310,000 after acquiring an additional 8,412 shares during the period. Finally, 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 during the period. 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.