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

Gyre Therapeutics, Inc. (NASDAQ:GYRE) gapped up prior to trading on Tuesday . The stock had previously closed at $12.97, but opened at $13.29. Gyre Therapeutics shares last traded at $12.90, with a volume of 1,740 shares changing hands.

Gyre Therapeutics Stock Up 1.8 %

The company has a fifty day moving average price of $12.50 and a two-hundred day moving average price of $13.41.

Gyre Therapeutics (NASDAQ:GYRE) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $25.23 million during the quarter. On average, sell-side analysts expect that Gyre Therapeutics, Inc. will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of Gyre Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in GYRE. Bank of New York Mellon Corp acquired a new position in shares of Gyre Therapeutics during the 2nd quarter worth about $218,000. Rhumbline Advisers acquired a new position in Gyre Therapeutics during the second quarter worth approximately $123,000. WINTON GROUP Ltd bought a new stake in Gyre Therapeutics in the second quarter valued at approximately $220,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Gyre Therapeutics in the second quarter valued at approximately $166,000. 23.99% of the stock is owned by institutional investors.

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.