Gyre Therapeutics (NASDAQ:GYRE) Sees Unusually-High Trading Volume – What’s Next?

Gyre Therapeutics, Inc. (NASDAQ:GYRE) shares saw unusually-high trading volume on Wednesday . Approximately 134,385 shares traded hands during mid-day trading, an increase of 19% from the previous session’s volume of 112,698 shares.The stock last traded at $10.14 and had previously closed at $10.18.

Analyst Ratings Changes

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

Gyre Therapeutics Price Performance

The stock has a fifty day simple moving average of $8.97 and a 200-day simple moving average of $10.56. The company has a market capitalization of $886.95 million, a price-to-earnings ratio of 473.00 and a beta of 1.90.

Gyre Therapeutics (NASDAQ:GYRE) last posted its earnings results on Friday, May 9th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. Gyre Therapeutics had a negative net margin of 84.57% and a negative return on equity of 118.43%. The firm had revenue of $22.06 million during the quarter, compared to analyst estimates of $28.40 million.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in shares of Gyre Therapeutics by 11.1% during the 4th quarter. Bank of New York Mellon Corp now owns 13,896 shares of the company’s stock worth $168,000 after acquiring an additional 1,389 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Gyre Therapeutics in the 4th quarter valued at about $1,225,000. Charles Schwab Investment Management Inc. raised its holdings in Gyre Therapeutics by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 114,566 shares of the company’s stock worth $1,386,000 after purchasing an additional 918 shares during the period. Wells Fargo & Company MN boosted its position in Gyre Therapeutics by 29.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,016 shares of the company’s stock worth $49,000 after purchasing an additional 913 shares in the last quarter. Finally, Barclays PLC grew its holdings in Gyre Therapeutics by 13.5% in the fourth quarter. Barclays PLC now owns 10,543 shares of the company’s stock valued at $128,000 after purchasing an additional 1,255 shares during the period. Hedge funds and other 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.