Gyre Therapeutics (NASDAQ:GYRE) Sets New 1-Year Low – Here’s Why

Gyre Therapeutics, Inc. (NASDAQ:GYRE) hit a new 52-week low on Tuesday . The company 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.

Analysts Set New Price Targets

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

Gyre Therapeutics Price Performance

The stock’s 50-day moving average price is $11.09 and its 200-day moving average price is $12.03. The company has a market cap of $722.68 million, a P/E ratio of 154.40 and a beta of 1.93.

Gyre Therapeutics (NASDAQ:GYRE) last posted its quarterly earnings data 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 business had revenue of $27.87 million during the quarter, compared to the consensus estimate of $23.50 million.

Hedge Funds Weigh In On Gyre Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in shares of Gyre Therapeutics by 40.4% during 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. Northern Trust Corp lifted its position in Gyre Therapeutics by 9.1% during the fourth quarter. Northern Trust Corp now owns 103,382 shares of the company’s stock worth $1,251,000 after purchasing an additional 8,624 shares during the period. Barclays PLC grew its stake in Gyre Therapeutics by 13.5% during the fourth quarter. Barclays PLC now owns 10,543 shares of the company’s stock worth $128,000 after buying an additional 1,255 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Gyre Therapeutics by 29.4% in the 4th quarter. Wells Fargo & Company MN now owns 4,016 shares of the company’s stock valued at $49,000 after buying an additional 913 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Gyre Therapeutics by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 114,566 shares of the company’s stock valued at $1,386,000 after buying an additional 918 shares in the last quarter. 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.