Gyre Therapeutics (NASDAQ:GYRE) Trading Down 3% – Should You Sell?

Gyre Therapeutics, Inc. (NASDAQ:GYRE) dropped 3% on Tuesday . The stock traded as low as $11.80 and last traded at $11.84. Approximately 40,221 shares changed hands during trading, a decline of 46% from the average daily volume of 74,921 shares. The stock had previously closed at $12.20.

Gyre Therapeutics Stock Down 2.5 %

The stock has a fifty day moving average of $12.76 and a 200-day moving average of $12.62.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GYRE. FMR LLC acquired a new stake in Gyre Therapeutics during the 3rd quarter worth $47,000. Barclays PLC increased its holdings in shares of Gyre Therapeutics by 281.8% in the third quarter. Barclays PLC now owns 9,288 shares of the company’s stock valued at $116,000 after purchasing an additional 6,855 shares during the period. State Street Corp lifted its holdings in shares of Gyre Therapeutics by 8.8% during the third quarter. State Street Corp now owns 104,490 shares of the company’s stock worth $1,310,000 after purchasing an additional 8,412 shares during the period. Rhumbline Advisers purchased a new position in Gyre Therapeutics in the 2nd quarter valued at $123,000. Finally, Renaissance Technologies LLC purchased a new position in Gyre Therapeutics during the 2nd quarter worth $166,000. Hedge funds and other institutional investors own 23.99% of the company’s stock.

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.