Gyre Therapeutics (NASDAQ:GYRE) Sees Strong Trading Volume – Time to Buy?

Gyre Therapeutics, Inc. (NASDAQ:GYRE) saw strong trading volume on Thursday . 28,842 shares traded hands during trading, a decline of 61% from the previous session’s volume of 74,771 shares.The stock last traded at $12.35 and had previously closed at $11.90.

Gyre Therapeutics Price Performance

The stock has a 50-day simple moving average of $12.76 and a 200-day simple moving average of $12.62.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. FMR LLC acquired a new stake in shares of Gyre Therapeutics in the 3rd quarter valued at about $47,000. Barclays PLC increased its holdings in Gyre Therapeutics by 281.8% in the third quarter. Barclays PLC now owns 9,288 shares of the company’s stock valued at $116,000 after buying an additional 6,855 shares during the last quarter. Rhumbline Advisers acquired a new stake in Gyre Therapeutics during the second quarter valued at approximately $123,000. Renaissance Technologies LLC bought a new position in Gyre Therapeutics during the 2nd quarter worth approximately $166,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Gyre Therapeutics in the 2nd quarter worth approximately $218,000. 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.