Gyre Therapeutics (NASDAQ:GYRE) Stock Price Down 3.6% – Here’s Why

Shares of Gyre Therapeutics, Inc. (NASDAQ:GYRE) were down 3.6% on Friday . The company traded as low as $7.15 and last traded at $7.0850. Approximately 23,720 shares traded hands during trading, a decline of 83% from the average daily volume of 135,860 shares. The stock had previously closed at $7.35.

Wall Street Analysts Forecast Growth

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

Gyre Therapeutics Stock Down 4.6%

The firm has a market capitalization of $675.18 million, a price-to-earnings ratio of 233.71 and a beta of 1.96. The company’s 50 day moving average is $7.86 and its 200 day moving average is $7.74.

Institutional Investors Weigh In On Gyre Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC bought a new stake in shares of Gyre Therapeutics in the third quarter valued at approximately $267,000. Alliancebernstein L.P. raised its holdings in Gyre Therapeutics by 9.5% in the 3rd 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 in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Gyre Therapeutics during the 3rd quarter valued at $111,000. Strs Ohio lifted its position in shares of Gyre Therapeutics by 58.6% during the 3rd quarter. Strs Ohio now owns 21,100 shares of the company’s stock valued at $157,000 after acquiring an additional 7,800 shares during the period. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Gyre Therapeutics during the 3rd quarter worth $38,000. 23.99% of the stock is currently owned by institutional investors and hedge funds.

Gyre Therapeutics Company Profile

Gyre Therapeutics, Inc is a clinical-stage biotechnology company focused on discovering and developing small-molecule therapies that target lipid biology to treat a range of metabolic, inflammatory and neurodegenerative diseases. The company’s proprietary platform combines lipidomic profiling with drug discovery tools to identify compounds that selectively modulate membrane lipid composition and restore normal protein function in disease-relevant cells.

Gyre’s preclinical pipeline includes programs in nonalcoholic steatohepatitis (NASH), Alzheimer’s disease and autoimmune conditions, reflecting its strategy of applying a unified lipid-targeted approach across multiple therapeutic areas.