Gyre Therapeutics (NASDAQ:GYRE) Stock Bumped Down to Sell by Wall Street Zen

Wall Street Zen cut shares of Gyre Therapeutics (NASDAQ:GYRE) from a hold rating to a sell rating in a report issued on Saturday morning,Wall Street Zen reports.

Several other equities research analysts also recently weighed in on the company. Zacks Research raised Gyre Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Gyre Therapeutics in a report on Friday, August 7th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce”.

Gyre Therapeutics Price Performance

GYRE opened at $6.08 on Friday. The business has a fifty day moving average price of $6.88 and a 200 day moving average price of $6.73. Gyre Therapeutics has a 12 month low of $5.44 and a 12 month high of $9.14. The stock has a market capitalization of $677.98 million, a price-to-earnings ratio of -28.95 and a beta of 1.89.

Gyre Therapeutics (NASDAQ:GYRE) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $29.11 million during the quarter, compared to analyst estimates of $26.49 million. On average, research analysts anticipate that Gyre Therapeutics will post -0.61 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Gyre Therapeutics during the second quarter valued at approximately $6,550,000. Bank of New York Mellon Corp bought a new position in Gyre Therapeutics during the second quarter worth $414,000. Dimensional Fund Advisors LP boosted 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 valued at $176,000 after buying an additional 14,365 shares during the period. Deutsche Bank AG acquired a new position in Gyre Therapeutics in the second quarter valued at approximately $118,000. Finally, Bank of America Corp DE acquired a new position in Gyre Therapeutics during the 2nd quarter valued at approximately $83,000. Institutional investors and hedge funds 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.