Gyre Therapeutics (NASDAQ:GYRE) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Gyre Therapeutics (NASDAQ:GYRE) from a sell rating to a hold rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other equities analysts have also commented on GYRE. Zacks Research lowered Gyre Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Gyre Therapeutics in a research report on Friday, August 7th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $16.00.

Gyre Therapeutics Stock Up 1.6%

Shares of NASDAQ:GYRE opened at $7.11 on Friday. Gyre Therapeutics has a 12-month low of $5.44 and a 12-month high of $9.42. The company’s 50 day moving average price is $6.74 and its two-hundred day moving average price is $6.75. The firm has a market cap of $792.84 million, a PE ratio of -33.86 and a beta of 1.89.

Gyre Therapeutics (NASDAQ:GYRE) last released its quarterly earnings results on Friday, August 7th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The business had revenue of $29.11 million during the quarter, compared to analyst estimates of $26.49 million. Gyre Therapeutics had a negative net margin of 15.47% and a negative return on equity of 6.57%. On average, research analysts expect that Gyre Therapeutics will post -0.61 EPS for the current year.

Institutional Trading of Gyre Therapeutics

Large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in Gyre Therapeutics in the second quarter valued at approximately $6,550,000. Bank of New York Mellon Corp acquired a new position in Gyre Therapeutics during the second quarter valued at approximately $414,000. Dimensional Fund Advisors LP lifted its stake in Gyre Therapeutics by 131.8% during the first quarter. Dimensional Fund Advisors LP now owns 25,268 shares of the company’s stock worth $176,000 after purchasing an additional 14,365 shares during the last quarter. Deutsche Bank AG bought a new stake in Gyre Therapeutics during the second quarter worth $118,000. Finally, Bank of America Corp DE acquired a new stake in shares of Gyre Therapeutics in the 2nd quarter valued at $83,000. Institutional investors and hedge funds own 23.99% of the company’s stock.

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.