Gyre Therapeutics (NASDAQ:GYRE) Trading 3.3% Higher

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s share price shot up 3.3% during mid-day trading on Thursday . The stock traded as high as $12.20 and last traded at $12.20. 5,678 shares changed hands during trading, a decline of 92% from the average session volume of 72,550 shares. The stock had previously closed at $11.81.

Gyre Therapeutics Trading Up 5.5 %

The company’s 50 day moving average is $12.62 and its 200-day moving average is $13.55.

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

Institutional Inflows and Outflows

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

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.