Gyre Therapeutics (NASDAQ:GYRE) Shares Gap Up – Still a Buy?

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s share price gapped up before the market opened on Friday . The stock had previously closed at $7.89, but opened at $8.35. Gyre Therapeutics shares last traded at $8.21, with a volume of 1,666 shares.

Analyst Ratings Changes

GYRE has been the subject of a number of research analyst reports. Jefferies Financial Group began 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. Zacks Research downgraded shares of Gyre Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Gyre Therapeutics in a report on Saturday. Finally, HC Wainwright initiated coverage on Gyre Therapeutics in a research note on Tuesday, August 26th. They issued a “buy” rating and a $18.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $17.00.

Gyre Therapeutics Trading Down 0.7%

The business’s fifty day moving average is $7.79 and its two-hundred day moving average is $8.18. The company has a market capitalization of $786.85 million, a PE ratio of 817.82 and a beta of 1.78.

Gyre Therapeutics (NASDAQ:GYRE) last announced its quarterly earnings results on Monday, August 11th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). Gyre Therapeutics had a return on equity of 7.67% and a net margin of 4.08%.The company had revenue of $26.77 million during the quarter, compared to the consensus estimate of $30.80 million.

Institutional Trading of Gyre Therapeutics

Several hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. grew its stake in shares of Gyre Therapeutics by 87.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 232,299 shares of the company’s stock valued at $1,707,000 after acquiring an additional 108,670 shares during the period. Geode Capital Management LLC lifted its holdings in Gyre Therapeutics by 28.6% during the second quarter. Geode Capital Management LLC now owns 401,709 shares of the company’s stock valued at $2,953,000 after purchasing an additional 89,390 shares in the last quarter. American Century Companies Inc. bought a new position in shares of Gyre Therapeutics in the first quarter worth approximately $184,000. State of Alaska Department of Revenue purchased a new stake in shares of Gyre Therapeutics in the third quarter worth $38,000. Finally, Advantage Alpha Capital Partners LP raised its position in shares of Gyre Therapeutics by 54.0% during the 1st quarter. Advantage Alpha Capital Partners LP now owns 13,663 shares of the company’s stock valued at $105,000 after purchasing an additional 4,790 shares during the period. Institutional investors own 23.99% of the company’s stock.

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.