Short Interest in Gyre Therapeutics, Inc. (NASDAQ:GYRE) Declines By 7.0%

Gyre Therapeutics, Inc. (NASDAQ:GYRE) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 313,000 shares, a decline of 7.0% from the August 15th total of 336,500 shares. Based on an average daily trading volume, of 63,900 shares, the short-interest ratio is presently 4.9 days. Approximately 1.3% of the company’s shares are short sold.

Insider Activity

In related news, Director Nassim Usman sold 3,452 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $12.00, for a total value of $41,424.00. Following the transaction, the director now directly owns 1,636 shares of the company’s stock, valued at approximately $19,632. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.92% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GYRE. WINTON GROUP Ltd acquired a new stake in shares of Gyre Therapeutics in the second quarter valued at about $220,000. Bank of New York Mellon Corp acquired a new stake in Gyre Therapeutics in the second quarter valued at approximately $218,000. Renaissance Technologies LLC purchased a new stake in shares of Gyre Therapeutics during the second quarter valued at approximately $166,000. Finally, Rhumbline Advisers acquired a new position in shares of Gyre Therapeutics during the second quarter worth $123,000. 23.99% of the stock is owned by hedge funds and other institutional investors.

Gyre Therapeutics Price Performance

GYRE opened at $13.87 on Thursday. Gyre Therapeutics has a 1 year low of $4.80 and a 1 year high of $30.40. The firm has a 50 day moving average price of $12.95 and a 200 day moving average price of $13.95.

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

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.