Gyre Therapeutics (NASDAQ:GYRE) Shares Down 4.7% – Here’s Why
by Renee Jackson · The Cerbat GemShares of Gyre Therapeutics, Inc. (NASDAQ:GYRE – Get Free Report) dropped 4.7% during mid-day trading on Tuesday . The company traded as low as $7.65 and last traded at $7.5450. Approximately 20,114 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 85,152 shares. The stock had previously closed at $7.92.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on GYRE shares. Zacks Research raised Gyre Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. Jefferies Financial Group started coverage on Gyre Therapeutics in a research note on Friday, October 10th. They issued a “buy” rating and a $16.00 price target for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gyre Therapeutics in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Gyre Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.00.
Gyre Therapeutics Stock Up 3.7%
The business’s fifty day moving average is $7.58 and its two-hundred day moving average is $7.64. The stock has a market capitalization of $729.22 million, a PE ratio of 252.42 and a beta of 1.99.
Institutional Trading of Gyre Therapeutics
Several hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue purchased a new stake in Gyre Therapeutics during the third quarter valued at approximately $38,000. Bank of America Corp DE increased its position in shares of Gyre Therapeutics by 28.8% during the 2nd quarter. Bank of America Corp DE now owns 6,277 shares of the company’s stock valued at $46,000 after purchasing an additional 1,402 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Gyre Therapeutics by 84.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,461 shares of the company’s stock valued at $47,000 after buying an additional 2,961 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Gyre Therapeutics by 77.8% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,413 shares of the company’s stock worth $54,000 after buying an additional 3,244 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Gyre Therapeutics during the third quarter worth $111,000. 23.99% of the stock is currently owned by hedge funds and other institutional investors.
About Gyre Therapeutics
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.