Gyre Therapeutics (NASDAQ:GYRE) Stock Rating Raised to Hold at Zacks Research

Zacks Research upgraded shares of Gyre Therapeutics (NASDAQ:GYRE) from a strong sell rating to a hold rating in a report issued on Tuesday morning,Zacks reports.

A number of other equities research analysts have also recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Gyre Therapeutics in a research note on Friday, August 7th. Wall Street Zen raised shares of Gyre Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, October 3rd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $16.00.

Gyre Therapeutics Price Performance

Shares of GYRE stock opened at $7.04 on Tuesday. Gyre Therapeutics has a 12-month low of $5.44 and a 12-month high of $9.42. The firm has a market capitalization of $785.03 million, a price-to-earnings ratio of -33.52 and a beta of 1.89. The business has a 50 day simple moving average of $6.82 and a 200 day simple moving average of $6.74.

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

Institutional Investors Weigh In On Gyre Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of GYRE. BlackRock Inc. acquired a new stake in Gyre Therapeutics in the 2nd quarter valued at about $6,550,000. Bank of New York Mellon Corp bought a new stake in shares of Gyre Therapeutics in the 2nd quarter worth approximately $414,000. Dimensional Fund Advisors LP raised its holdings in shares of Gyre Therapeutics by 131.8% in the 1st 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. Deutsche Bank AG acquired a new stake in Gyre Therapeutics during the second quarter valued at approximately $118,000. Finally, Bank of America Corp DE acquired a new stake in Gyre Therapeutics during the second quarter valued at approximately $83,000. 23.99% of the stock is currently owned by institutional investors.

Gyre Therapeutics Company Profile

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.