Gyre Therapeutics (NASDAQ:GYRE) Reaches New 52-Week Low – What’s Next?

Shares of Gyre Therapeutics, Inc. (NASDAQ:GYRE) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $7.00 and last traded at $7.72, with a volume of 411920 shares changing hands. The stock had previously closed at $9.11.

Analysts Set New Price Targets

Separately, Noble Financial began coverage on Gyre Therapeutics in a research note on Tuesday, March 11th. They set an “outperform” rating for the company.

Gyre Therapeutics Stock Up 10.6 %

The stock has a market capitalization of $663.71 million, a price-to-earnings ratio of 141.80 and a beta of 1.93. The company has a fifty day moving average of $10.93 and a two-hundred day moving average of $11.94.

Gyre Therapeutics (NASDAQ:GYRE) last issued its earnings results on Monday, March 17th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03). Gyre Therapeutics had a negative net margin of 84.57% and a negative return on equity of 118.43%. The firm had revenue of $27.87 million during the quarter, compared to analysts’ expectations of $23.50 million.

Hedge Funds Weigh In On Gyre Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in GYRE. SBI Securities Co. Ltd. acquired a new stake in shares of Gyre Therapeutics in the 4th quarter valued at approximately $1,225,000. Charles Schwab Investment Management Inc. lifted its holdings in Gyre Therapeutics by 392.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 113,648 shares of the company’s stock valued at $1,425,000 after acquiring an additional 90,557 shares during the period. Geode Capital Management LLC boosted its position in shares of Gyre Therapeutics by 16.9% during the 3rd quarter. Geode Capital Management LLC now owns 303,647 shares of the company’s stock worth $3,808,000 after purchasing an additional 43,840 shares in the last quarter. Northern Trust Corp grew its stake in shares of Gyre Therapeutics by 9.1% during the 4th quarter. Northern Trust Corp now owns 103,382 shares of the company’s stock worth $1,251,000 after purchasing an additional 8,624 shares during the period. Finally, State Street Corp increased its holdings in shares of Gyre Therapeutics by 8.8% in the 3rd quarter. State Street Corp now owns 104,490 shares of the company’s stock valued at $1,310,000 after purchasing an additional 8,412 shares in the last quarter. Institutional investors and hedge funds own 23.99% of the company’s stock.

Gyre Therapeutics Company Profile

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.