Gyre Therapeutics (NASDAQ:GYRE) Stock Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Gyre Therapeutics, Inc. (NASDAQ:GYRE) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $7.01 and traded as high as $7.10. Gyre Therapeutics shares last traded at $7.09, with a volume of 125,144 shares.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GYRE. Weiss Ratings restated a “sell (d-)” rating on shares of Gyre Therapeutics in a report on Friday, August 7th. Zacks Research upgraded shares of Gyre Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 6th. Finally, Wall Street Zen lowered shares of Gyre Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce”.

Gyre Therapeutics Stock Performance

The business has a fifty day moving average of $6.73 and a 200-day moving average of $6.99. The company has a market capitalization of $507.37 million, a P/E ratio of -21.67 and a beta of 1.89.

Gyre Therapeutics (NASDAQ:GYRE) last released its quarterly earnings data 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 return on equity of 6.57% and a negative net margin of 15.47%. The business had revenue of $29.11 million for the quarter, compared to analyst estimates of $26.49 million. Sell-side analysts anticipate that Gyre Therapeutics, Inc. will post -0.61 EPS for the current year.

Institutional Investors Weigh In On Gyre Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in GYRE. BlackRock Inc. acquired a new position in Gyre Therapeutics during the 2nd quarter valued at about $6,550,000. SBI Securities Co. Ltd. raised its stake in shares of Gyre Therapeutics by 1.8% in the third quarter. SBI Securities Co. Ltd. now owns 169,717 shares of the company’s stock worth $1,244,000 after purchasing an additional 2,967 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Gyre Therapeutics in the second quarter worth approximately $414,000. Dimensional Fund Advisors LP lifted its holdings in shares of Gyre Therapeutics by 131.8% in the first quarter. Dimensional Fund Advisors LP now owns 25,268 shares of the company’s stock valued at $176,000 after purchasing an additional 14,365 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in shares of Gyre Therapeutics in the second quarter valued at approximately $118,000. 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, including pulmonary and liver fibrosis. The company’s lead development program is F351, also known as hydronidone, an investigational small-molecule therapy designed to inhibit the progression of fibrosis.

F351 is being evaluated in clinical programs for idiopathic pulmonary fibrosis and liver fibrosis associated with chronic liver disease, including nonalcoholic steatohepatitis-related fibrosis.