Gyre Therapeutics (NASDAQ:GYRE) Stock Price Up 13.9% – Here’s Why

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s stock price traded up 13.9% on Tuesday . The stock traded as high as $11.69 and last traded at $11.77. 21,147 shares were traded during mid-day trading, a decline of 71% from the average session volume of 72,706 shares. The stock had previously closed at $10.33.

Analyst Ratings Changes

Separately, Noble Financial initiated coverage on shares of Gyre Therapeutics in a research note on Tuesday. They issued an “outperform” rating for the company.

Gyre Therapeutics Stock Up 1.9 %

The business’s fifty day moving average price is $11.24 and its 200 day moving average price is $12.32.

Insider Activity

In other Gyre Therapeutics news, President Songjiang Ma sold 2,000 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $12.70, for a total value of $25,400.00. Following the sale, the president now owns 2,928,467 shares of the company’s stock, valued at $37,191,530.90. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 34,054 shares of company stock worth $383,057 over the last 90 days. 19.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Gyre Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC purchased a new position in Gyre Therapeutics during the third quarter worth about $47,000. Wells Fargo & Company MN grew its stake in Gyre Therapeutics by 29.4% during the fourth quarter. Wells Fargo & Company MN now owns 4,016 shares of the company’s stock worth $49,000 after buying an additional 913 shares during the period. Bank of America Corp DE increased its position in shares of Gyre Therapeutics by 40.4% in the fourth 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 in the last quarter. Barclays PLC raised its stake in shares of Gyre Therapeutics by 281.8% in the 3rd quarter. Barclays PLC now owns 9,288 shares of the company’s stock valued at $116,000 after acquiring an additional 6,855 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Gyre Therapeutics by 11.1% during the 4th quarter. Bank of New York Mellon Corp now owns 13,896 shares of the company’s stock valued at $168,000 after acquiring an additional 1,389 shares in the last quarter. 23.99% of the stock is currently owned by hedge funds and other institutional investors.

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.