Gyre Therapeutics (NASDAQ:GYRE) Stock Price Down 6.1% – Should You Sell?

Shares of Gyre Therapeutics, Inc. (NASDAQ:GYRE) fell 6.1% during trading on Wednesday . The company traded as low as $10.34 and last traded at $10.34. 77,182 shares were traded during trading, an increase of 10% from the average session volume of 69,877 shares. The stock had previously closed at $11.01.

Gyre Therapeutics Price Performance

The company’s 50-day simple moving average is $13.31 and its two-hundred day simple moving average is $12.68.

Institutional Trading of Gyre Therapeutics

Several hedge funds have recently bought and sold shares of GYRE. FMR LLC purchased a new position in Gyre Therapeutics in the 3rd quarter worth approximately $47,000. Barclays PLC boosted its position in shares of Gyre Therapeutics by 281.8% during the third quarter. Barclays PLC now owns 9,288 shares of the company’s stock worth $116,000 after acquiring an additional 6,855 shares during the last quarter. Rhumbline Advisers purchased a new stake in Gyre Therapeutics in the 2nd quarter worth $123,000. Renaissance Technologies LLC bought a new position in shares of Gyre Therapeutics during the 2nd quarter valued at about $166,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Gyre Therapeutics during the second quarter valued at about $218,000. 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.