Gyre Therapeutics (NASDAQ:GYRE) Shares Down 12.5% – Should You Sell?

Shares of Gyre Therapeutics, Inc. (NASDAQ:GYRE) were down 12.5% during trading on Monday . The stock traded as low as $8.11 and last traded at $7.97. Approximately 99,280 shares traded hands during trading, an increase of 17% from the average daily volume of 84,647 shares. The stock had previously closed at $9.11.

Analyst Upgrades and Downgrades

Separately, Noble Financial initiated coverage on shares of Gyre Therapeutics in a research note on Tuesday, March 11th. They issued an “outperform” rating for the company.

Gyre Therapeutics Stock Up 8.1 %

The company has a 50-day moving average price of $11.00 and a 200-day moving average price of $11.98. The company has a market capitalization of $648.73 million, a price-to-earnings ratio of 138.60 and a beta of 1.93.

Gyre Therapeutics (NASDAQ:GYRE) last issued its quarterly earnings results on Monday, March 17th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.03). Gyre Therapeutics had a negative return on equity of 118.43% and a negative net margin of 84.57%. The business had revenue of $27.87 million during the quarter, compared to the consensus estimate of $23.50 million.

Hedge Funds Weigh In On Gyre Therapeutics

Several large investors have recently bought and sold shares of the stock. FMR LLC acquired a new position in shares of Gyre Therapeutics during the third quarter valued at about $47,000. Wells Fargo & Company MN lifted its position in shares of Gyre Therapeutics by 29.4% in the 4th quarter. Wells Fargo & Company MN now owns 4,016 shares of the company’s stock worth $49,000 after acquiring an additional 913 shares during the period. Bank of America Corp DE grew its holdings in shares of Gyre Therapeutics by 40.4% during the 4th quarter. Bank of America Corp DE now owns 6,937 shares of the company’s stock worth $84,000 after purchasing an additional 1,996 shares in the last quarter. Barclays PLC increased its position in shares of Gyre Therapeutics by 281.8% during the third quarter. Barclays PLC now owns 9,288 shares of the company’s stock valued at $116,000 after purchasing an additional 6,855 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Gyre Therapeutics by 11.1% during the fourth quarter. Bank of New York Mellon Corp now owns 13,896 shares of the company’s stock valued at $168,000 after purchasing an additional 1,389 shares during the period. 23.99% of the stock is currently owned by institutional investors and hedge funds.

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.