Gyre Therapeutics (NASDAQ:GYRE) Shares Up 10.1% – Time to Buy?

Gyre Therapeutics, Inc. (NASDAQ:GYRE) rose 10.1% during trading on Tuesday . The company traded as high as $18.50 and last traded at $18.50. Approximately 43,391 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 67,668 shares. The stock had previously closed at $16.80.

Gyre Therapeutics Price Performance

The firm has a 50 day moving average of $13.66 and a two-hundred day moving average of $13.01.

Gyre Therapeutics (NASDAQ:GYRE) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $25.23 million for the quarter. Equities analysts predict that Gyre Therapeutics, Inc. will post -0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake 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 purchasing an additional 90,557 shares during the period. WINTON GROUP Ltd bought a new stake in shares of Gyre Therapeutics during the 2nd quarter valued at $220,000. Bank of New York Mellon Corp bought a new stake in shares of Gyre Therapeutics during the 2nd quarter valued at $218,000. Renaissance Technologies LLC bought a new stake in shares of Gyre Therapeutics during the 2nd quarter valued at $166,000. Finally, Rhumbline Advisers bought a new position in Gyre Therapeutics in the 2nd quarter worth about $123,000. Hedge funds and other 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.