Gyre Therapeutics (NASDAQ:GYRE) Shares Up 10.1% – Here’s Why

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s stock price shot up 10.1% on Tuesday . The stock traded as high as $18.50 and last traded at $18.50. 43,391 shares traded hands during trading, a decline of 36% from the average session volume of 67,668 shares. The stock had previously closed at $16.80.

Gyre Therapeutics Stock Performance

The stock has a 50 day moving average price of $13.66 and a 200 day moving average price of $13.01.

Gyre Therapeutics (NASDAQ:GYRE) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $25.23 million during the quarter. On average, research analysts predict that Gyre Therapeutics, Inc. will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of Gyre Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers purchased a new stake in Gyre Therapeutics in the second quarter worth $123,000. Renaissance Technologies LLC bought a new position in Gyre Therapeutics in the 2nd quarter worth approximately $166,000. Bank of New York Mellon Corp bought a new position in shares of Gyre Therapeutics in the second quarter valued at approximately $218,000. WINTON GROUP Ltd bought a new position in shares of Gyre Therapeutics during the second quarter valued at approximately $220,000. Finally, Charles Schwab Investment Management Inc. increased its position in Gyre Therapeutics by 392.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 113,648 shares of the company’s stock worth $1,425,000 after purchasing an additional 90,557 shares during the period. Institutional investors own 23.99% of the company’s stock.

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.