Gyre Therapeutics, Inc. (NASDAQ:GYRE) Sees Large Decline in Short Interest

Gyre Therapeutics, Inc. (NASDAQ:GYRE) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 376,600 shares, a decline of 16.1% from the October 15th total of 448,700 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average daily volume of 48,100 shares, the days-to-cover ratio is presently 7.8 days.

Institutional Investors Weigh In On Gyre Therapeutics

Large investors have recently made changes to their positions in the company. FMR LLC bought a new position in Gyre Therapeutics in the 3rd quarter worth approximately $47,000. Barclays PLC grew its stake in shares of Gyre Therapeutics by 281.8% in the third quarter. Barclays PLC now owns 9,288 shares of the company’s stock worth $116,000 after purchasing an additional 6,855 shares in the last quarter. Rhumbline Advisers acquired a new position in shares of Gyre Therapeutics during the second quarter valued at $123,000. Renaissance Technologies LLC bought a new stake in shares of Gyre Therapeutics during the second quarter valued at about $166,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Gyre Therapeutics during the second quarter valued at about $218,000. Institutional investors and hedge funds own 23.99% of the company’s stock.

Gyre Therapeutics Stock Performance

Shares of GYRE opened at $13.12 on Friday. Gyre Therapeutics has a 12 month low of $8.26 and a 12 month high of $30.40. The stock has a fifty day moving average price of $13.83 and a 200 day moving average price of $13.00.

Gyre Therapeutics (NASDAQ:GYRE) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.01 earnings per share for the quarter. Gyre Therapeutics had a negative net margin of 60.75% and a negative return on equity of 119.54%. The firm had revenue of $25.23 million for the quarter. On average, equities analysts forecast that Gyre Therapeutics will post -0.45 EPS for the current fiscal year.

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.