Gyre Therapeutics, Inc. (NASDAQ:GYRE – Get Free Report) was the recipient of a significant 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 volume of 63,900 shares, the days-to-cover ratio is currently 4.9 days. Currently, 1.3% of the company’s shares are sold short.
Insider Activity
In other Gyre Therapeutics news, Director Nassim Usman sold 3,452 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $12.00, for a total value of $41,424.00. Following the completion of the transaction, the director now directly owns 1,636 shares in the company, valued at $19,632. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.92% of the company’s stock.
Institutional Trading of Gyre Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. WINTON GROUP Ltd acquired a new stake in shares of Gyre Therapeutics during the 2nd quarter worth about $220,000. Bank of New York Mellon Corp acquired a new stake in shares of Gyre Therapeutics during the 2nd quarter worth about $218,000. Renaissance Technologies LLC acquired a new stake in shares of Gyre Therapeutics during the 2nd quarter worth about $166,000. Finally, Rhumbline Advisers acquired a new stake in shares of Gyre Therapeutics during the 2nd quarter worth about $123,000. 23.99% of the stock is owned by institutional investors and hedge funds.
Gyre Therapeutics Stock Performance
Gyre Therapeutics (NASDAQ:GYRE – Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $25.23 million for the quarter. As a group, equities research analysts expect that Gyre Therapeutics will post -0.45 earnings per share for the current year.
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.
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