Gyre Therapeutics (NASDAQ:GYRE) Stock Price Down 5.9% – Here’s Why

Gyre Therapeutics, Inc. (NASDAQ:GYRE) shares traded down 5.9% during trading on Thursday . The stock traded as low as $7.91 and last traded at $7.9650. 26,084 shares were traded during mid-day trading, a decline of 81% from the average session volume of 137,484 shares. The stock had previously closed at $8.46.

Analysts Set New Price Targets

Several analysts have weighed in on GYRE shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gyre Therapeutics in a research report on Wednesday, October 8th. HC Wainwright began coverage on Gyre Therapeutics in a research report on Tuesday, August 26th. They set a “buy” rating and a $18.00 price target on the stock. Jefferies Financial Group initiated coverage on shares of Gyre Therapeutics in a research note on Friday, October 10th. They issued a “buy” rating and a $16.00 price target for the company. Wall Street Zen raised shares of Gyre Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, Zacks Research upgraded shares of Gyre Therapeutics from a “strong sell” rating to a “hold” rating in a report on Friday, November 14th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $17.00.

Gyre Therapeutics Trading Down 2.3%

The company has a market capitalization of $740.78 million, a PE ratio of 256.42 and a beta of 1.96. The business’s fifty day moving average is $7.84 and its two-hundred day moving average is $7.80.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. increased its holdings in Gyre Therapeutics by 87.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 232,299 shares of the company’s stock worth $1,707,000 after acquiring an additional 108,670 shares in the last quarter. Advantage Alpha Capital Partners LP lifted its stake in shares of Gyre Therapeutics by 54.0% during the 1st quarter. Advantage Alpha Capital Partners LP now owns 13,663 shares of the company’s stock valued at $105,000 after buying an additional 4,790 shares in the last quarter. American Century Companies Inc. bought a new position in Gyre Therapeutics in the 1st quarter worth $184,000. Millennium Management LLC purchased a new stake in Gyre Therapeutics in the 3rd quarter worth $267,000. Finally, Alliancebernstein L.P. raised its holdings in Gyre Therapeutics by 9.5% during the third quarter. Alliancebernstein L.P. now owns 21,830 shares of the company’s stock valued at $163,000 after acquiring an additional 1,900 shares during the period. 23.99% of the stock is owned by hedge funds and other 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.