Gyre Therapeutics (NASDAQ:GYRE) Raised to Hold at Zacks Research

Gyre Therapeutics (NASDAQ:GYRE) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

A number of other research analysts have also recently commented on GYRE. Weiss Ratings restated a “sell (d-)” rating on shares of Gyre Therapeutics in a report on Friday, August 7th. Wall Street Zen upgraded shares of Gyre Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, October 3rd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $16.00.

Gyre Therapeutics Stock Down 0.6%

NASDAQ:GYRE opened at $7.04 on Tuesday. The business’s 50-day simple moving average is $6.82 and its two-hundred day simple moving average is $6.74. Gyre Therapeutics has a 52 week low of $5.44 and a 52 week high of $9.42. The stock has a market cap of $785.03 million, a PE ratio of -33.52 and a beta of 1.89.

Gyre Therapeutics (NASDAQ:GYRE) last posted its earnings results on Friday, August 7th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The firm had revenue of $29.11 million for the quarter, compared to the consensus estimate of $26.49 million. Gyre Therapeutics had a negative net margin of 15.47% and a negative return on equity of 6.57%. Sell-side analysts anticipate that Gyre Therapeutics will post -0.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gyre Therapeutics

Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in Gyre Therapeutics by 4.7% in the 1st quarter. Bank of New York Mellon Corp now owns 43,144 shares of the company’s stock valued at $301,000 after acquiring an additional 1,941 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Gyre Therapeutics during the 2nd quarter worth approximately $83,000. Dimensional Fund Advisors LP grew its position in shares of Gyre Therapeutics by 131.8% in the first quarter. Dimensional Fund Advisors LP now owns 25,268 shares of the company’s stock valued at $176,000 after purchasing an additional 14,365 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of Gyre Therapeutics in the second quarter valued at approximately $118,000. Finally, BlackRock Inc. acquired a new stake in shares of Gyre Therapeutics in the second quarter valued at approximately $6,550,000. 23.99% of the stock is owned by hedge funds and other institutional investors.

Gyre Therapeutics Company Profile

Gyre Therapeutics, Inc is a biopharmaceutical company focused on developing therapies for fibrotic diseases, with an emphasis on liver fibrosis and other serious chronic conditions. The company’s research and development activities are centered on novel small-molecule treatments intended to address the underlying processes that cause excessive scar tissue formation.

Gyre’s lead investigational product is F351, also known as hydronidone, a potential treatment for liver fibrosis. The therapy has been studied in China for hepatitis B virus-associated liver fibrosis and is also being evaluated in the United States for liver fibrosis associated with nonalcoholic steatohepatitis.