Gyre Therapeutics (NASDAQ:GYRE) Shares Gap Down on Disappointing Earnings

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s stock price gapped down prior to trading 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The firm had revenue of $27.87 million during the quarter, compared to analyst estimates of $23.50 million. Gyre Therapeutics had a negative return on equity of 118.43% and a negative net margin of 84.57%.

Analyst Ratings Changes

Separately, Noble Financial assumed coverage on shares of Gyre Therapeutics in a research report on Tuesday, March 11th. They set an “outperform” rating on the stock.

Insider Buying and Selling

In other news, President Songjiang Ma sold 2,000 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was 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 directly owns 2,928,467 shares in the company, valued at $37,191,530.90. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 36,054 shares of company stock valued at $409,057 over the last 90 days. 19.52% of the stock is owned by insiders.

Institutional Trading of Gyre Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GYRE. FMR LLC acquired a new stake in shares of Gyre Therapeutics during the third quarter worth $47,000. Wells Fargo & Company MN boosted its position in Gyre Therapeutics by 29.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,016 shares of the company’s stock valued at $49,000 after acquiring an additional 913 shares during the last quarter. Bank of America Corp DE grew its holdings in Gyre Therapeutics by 40.4% during the 4th quarter. Bank of America Corp DE now owns 6,937 shares of the company’s stock worth $84,000 after acquiring an additional 1,996 shares during the period. Barclays PLC raised its position in shares of Gyre Therapeutics by 281.8% in the 3rd quarter. Barclays PLC now owns 9,288 shares of the company’s stock worth $116,000 after acquiring an additional 6,855 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Gyre Therapeutics by 11.1% in the 4th quarter. Bank of New York Mellon Corp now owns 13,896 shares of the company’s stock valued at $168,000 after purchasing an additional 1,389 shares during the period. Institutional investors and hedge funds own 23.99% of the company’s stock.

Gyre Therapeutics Stock Performance

The firm has a 50-day moving average of $11.29 and a 200 day moving average of $12.25.

Gyre Therapeutics Company Profile

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.