Gyre Therapeutics (NASDAQ:GYRE) Stock Price Up 10.5% – Still a Buy?

Shares of Gyre Therapeutics, Inc. (NASDAQ:GYRE) traded up 10.5% on Wednesday . The stock traded as high as $7.11 and last traded at $7.08. 19,784 shares traded hands during trading, a decline of 77% from the average session volume of 86,861 shares. The stock had previously closed at $6.41.

Analysts Set New Price Targets

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

Gyre Therapeutics Stock Performance

The stock’s 50-day moving average is $11.00 and its 200 day moving average is $11.98. The stock has a market capitalization of $690.86 million, a PE ratio of 144.18 and a beta of 1.93.

Gyre Therapeutics (NASDAQ:GYRE) last issued its quarterly earnings data on Monday, March 17th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). The firm had revenue of $27.87 million for 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 modified their holdings of GYRE. SBI Securities Co. Ltd. purchased a new position in Gyre Therapeutics during the 4th quarter worth $1,225,000. FMR LLC acquired a new stake in shares of Gyre Therapeutics during the third quarter worth about $47,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Gyre Therapeutics by 392.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 113,648 shares of the company’s stock worth $1,425,000 after buying an additional 90,557 shares during the last quarter. State Street Corp increased 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 acquiring an additional 8,412 shares during the period. Finally, Barclays PLC increased its position in Gyre Therapeutics by 281.8% in the 3rd quarter. Barclays PLC now owns 9,288 shares of the company’s stock valued at $116,000 after acquiring an additional 6,855 shares during the period. 23.99% of the stock is owned by institutional investors and hedge funds.

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.