Gyre Therapeutics (NASDAQ:GYRE) Trading 10.1% Higher – Should You Buy?

Gyre Therapeutics, Inc. (NASDAQ:GYREGet Free Report) shares rose 10.1% on Tuesday . The stock traded as high as $18.50 and last traded at $18.50. Approximately 43,391 shares traded hands during trading, a decline of 36% from the average daily volume of 67,668 shares. The stock had previously closed at $16.80.

Gyre Therapeutics Trading Down 9.6 %

The stock’s fifty day simple moving average is $13.77 and its 200-day simple moving average is $13.02.

Gyre Therapeutics (NASDAQ:GYREGet Free Report) last released its earnings results on Tuesday, August 13th. The company reported $0.01 EPS for the quarter. The company had revenue of $25.23 million for the quarter. Equities analysts predict that Gyre Therapeutics, Inc. will post -0.45 earnings per share for the current year.

Hedge Funds Weigh In On Gyre Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in GYRE. Bank of New York Mellon Corp purchased a new position in Gyre Therapeutics in the second quarter worth approximately $218,000. Rhumbline Advisers purchased a new position in Gyre Therapeutics in the second quarter valued at $123,000. WINTON GROUP Ltd purchased a new stake in Gyre Therapeutics during the 2nd quarter worth about $220,000. Renaissance Technologies LLC purchased a new stake in Gyre Therapeutics during the second quarter worth approximately $166,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Gyre Therapeutics by 392.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 113,648 shares of the company’s stock worth $1,425,000 after buying an additional 90,557 shares during the last quarter. 23.99% of the stock is owned by institutional investors and hedge funds.

About Gyre Therapeutics

(Get Free Report)

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.

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