Gyre Therapeutics (NASDAQ:GYRE) Shares Gap Down Following Weak Earnings

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s stock price gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $12.28, but opened at $11.50. Gyre Therapeutics shares last traded at $10.07, with a volume of 177,811 shares traded.

The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The company had revenue of $27.87 million for the quarter, compared to the consensus estimate of $23.50 million. Gyre Therapeutics had a negative return on equity of 118.43% and a negative net margin of 84.57%.

Analyst Upgrades and Downgrades

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

Insider Activity at Gyre Therapeutics

In other news, President Songjiang Ma sold 2,000 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $12.70, for a total transaction of $25,400.00. Following the completion of the transaction, the president now owns 2,928,467 shares in the company, valued at approximately $37,191,530.90. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold 36,054 shares of company stock valued at $409,057 over the last 90 days. 19.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Gyre Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in GYRE. SBI Securities Co. Ltd. bought a new stake in Gyre Therapeutics during the fourth quarter worth approximately $1,225,000. Charles Schwab Investment Management Inc. lifted its position in shares of Gyre Therapeutics by 392.2% during the 3rd 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 last quarter. Geode Capital Management LLC boosted its stake 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 acquiring an additional 43,840 shares in the last quarter. Advantage Alpha Capital Partners LP acquired a new position in shares of Gyre Therapeutics in the 3rd quarter worth $334,000. Finally, Northern Trust Corp raised its position in shares of Gyre Therapeutics by 9.1% during the fourth 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. 23.99% of the stock is currently owned by institutional investors.

Gyre Therapeutics Trading Down 24.8 %

The business has a 50-day moving average price of $11.32 and a 200-day moving average price of $12.29.

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.