Gyre Therapeutics (NASDAQ:GYRE) Stock Rating Upgraded by Wall Street Zen

Gyre Therapeutics (NASDAQ:GYRE) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other analysts have also recently issued reports on the company. Zacks Research cut Gyre Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Gyre Therapeutics in a research report on Friday, August 7th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $16.00.

Gyre Therapeutics Stock Performance

Shares of GYRE opened at $7.11 on Friday. The company has a 50 day moving average price of $6.74 and a 200-day moving average price of $6.74. Gyre Therapeutics has a fifty-two week low of $5.44 and a fifty-two week high of $9.42. The stock has a market capitalization of $792.84 million, a PE ratio of -33.86 and a beta of 1.89.

Gyre Therapeutics (NASDAQ:GYRE) last issued its quarterly earnings data on Friday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.06). The business had revenue of $29.11 million for the quarter, compared to analysts’ expectations of $26.49 million. Gyre Therapeutics had a negative net margin of 15.47% and a negative return on equity of 6.57%. Equities research analysts forecast that Gyre Therapeutics will post -0.61 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GYRE. BlackRock Inc. purchased a new stake in Gyre Therapeutics during the second quarter valued at approximately $6,550,000. Bank of New York Mellon Corp purchased a new position in Gyre Therapeutics in the second quarter worth $414,000. Deutsche Bank AG purchased a new position in Gyre Therapeutics in the second quarter worth $118,000. Dimensional Fund Advisors LP increased its position in shares of Gyre Therapeutics by 131.8% during the first quarter. Dimensional Fund Advisors LP now owns 25,268 shares of the company’s stock worth $176,000 after purchasing an additional 14,365 shares in the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of Gyre Therapeutics during the second quarter worth $83,000. Hedge funds and other institutional investors own 23.99% of the company’s stock.

About Gyre Therapeutics

Gyre Therapeutics, Inc is a biopharmaceutical company focused on developing therapies for fibrotic diseases, with an emphasis on liver fibrosis and other serious chronic conditions. The company’s research and development activities are centered on novel small-molecule treatments intended to address the underlying processes that cause excessive scar tissue formation.

Gyre’s lead investigational product is F351, also known as hydronidone, a potential treatment for liver fibrosis. The therapy has been studied in China for hepatitis B virus-associated liver fibrosis and is also being evaluated in the United States for liver fibrosis associated with nonalcoholic steatohepatitis.