Gyre Therapeutics (NASDAQ:GYRE) Shares Down 4.5% – Here’s Why

Gyre Therapeutics, Inc. (NASDAQ:GYRE) fell 4.5% during mid-day trading on Wednesday . The company traded as low as $11.53 and last traded at $11.54. 45,000 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 68,897 shares. The stock had previously closed at $12.09.

Gyre Therapeutics Price Performance

The stock’s 50 day simple moving average is $13.59 and its 200-day simple moving average is $12.83.

Institutional Investors Weigh In On Gyre Therapeutics

A number of large investors have recently bought and sold shares of GYRE. FMR LLC bought a new position in Gyre Therapeutics during the third quarter valued at about $47,000. Barclays PLC lifted its holdings in Gyre Therapeutics by 281.8% in the 3rd quarter. Barclays PLC now owns 9,288 shares of the company’s stock worth $116,000 after purchasing an additional 6,855 shares during the last quarter. Rhumbline Advisers acquired a new stake in Gyre Therapeutics in the 2nd quarter worth approximately $123,000. Renaissance Technologies LLC bought a new stake in Gyre Therapeutics during the second quarter worth approximately $166,000. Finally, Bank of New York Mellon Corp acquired a new position in Gyre Therapeutics during the second quarter valued at approximately $218,000. 23.99% of the stock is currently owned by institutional investors.

About Gyre Therapeutics

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.