Gyre Therapeutics (NASDAQ:GYRE) Shares Gap Up to $10.40

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $10.40, but opened at $10.78. Gyre Therapeutics shares last traded at $10.25, with a volume of 2,428 shares traded.

Gyre Therapeutics Stock Performance

The business’s 50-day moving average price is $12.16 and its 200-day moving average price is $14.46.

Insider Activity at Gyre Therapeutics

In other news, Director Nassim Usman sold 3,452 shares of Gyre Therapeutics stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $12.00, for a total transaction of $41,424.00. Following the transaction, the director now directly owns 1,636 shares of the company’s stock, valued at approximately $19,632. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.92% of the stock is owned by company insiders.

Institutional Trading of Gyre Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers bought a new position in Gyre Therapeutics in the 2nd quarter worth $123,000. Renaissance Technologies LLC purchased a new position in shares of Gyre Therapeutics in the second quarter valued at about $166,000. Bank of New York Mellon Corp bought a new position in shares of Gyre Therapeutics in the second quarter worth about $218,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Gyre Therapeutics during the second quarter worth about $220,000. 23.99% of the stock is currently owned by institutional investors.

About Gyre Therapeutics

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.