Gyre Therapeutics (NASDAQ:GYRE) Stock Price Down 5.9% – Should You Sell?

Gyre Therapeutics, Inc. (NASDAQ:GYRE) dropped 5.9% on Thursday . The company traded as low as $12.13 and last traded at $12.15. Approximately 16,987 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 68,424 shares. The stock had previously closed at $12.91.

Gyre Therapeutics Stock Performance

The company has a 50-day moving average of $13.72 and a 200-day moving average of $12.92.

Institutional Trading of Gyre Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of GYRE. FMR LLC acquired a new position in shares of Gyre Therapeutics in the 3rd quarter valued at about $47,000. Barclays PLC boosted its stake in Gyre Therapeutics by 281.8% in the third 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. Rhumbline Advisers bought a new position in shares of Gyre Therapeutics during the second quarter valued at approximately $123,000. Renaissance Technologies LLC acquired a new stake in shares of Gyre Therapeutics during the 2nd quarter worth approximately $166,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Gyre Therapeutics in the 2nd quarter worth approximately $218,000. 23.99% of the stock is 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.