Gyre Therapeutics (NASDAQ:GYRE) Shares Gap Up – Time to Buy?

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $11.14, but opened at $11.55. Gyre Therapeutics shares last traded at $12.17, with a volume of 35,423 shares.

Gyre Therapeutics Trading Up 11.6 %

The stock’s fifty day simple moving average is $12.86 and its two-hundred day simple moving average is $12.61.

Institutional Trading of Gyre Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC acquired a new position in shares of Gyre Therapeutics in the 3rd quarter valued at about $47,000. Barclays PLC lifted its position in shares of Gyre Therapeutics by 281.8% during the 3rd quarter. Barclays PLC now owns 9,288 shares of the company’s stock valued at $116,000 after acquiring an additional 6,855 shares during the period. Rhumbline Advisers acquired a new position in shares of Gyre Therapeutics during the 2nd quarter valued at $123,000. Renaissance Technologies LLC acquired a new stake in Gyre Therapeutics in the second quarter worth $166,000. Finally, Bank of New York Mellon Corp bought a new stake in Gyre Therapeutics in the second quarter valued at $218,000. 23.99% of the stock is currently owned by institutional investors.

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.