Gyre Therapeutics (NASDAQ:GYRE) Shares Gap Down After Earnings Miss

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s stock price gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. 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.

The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). Gyre Therapeutics had a negative net margin of 84.57% and a negative return on equity of 118.43%. The business had revenue of $27.87 million for the quarter, compared to analysts’ expectations of $23.50 million.

Analysts Set New Price Targets

Separately, Noble Financial assumed coverage on Gyre Therapeutics in a report on Tuesday, March 11th. They issued an “outperform” rating for the company.

Insider Activity at Gyre Therapeutics

In related news, President Songjiang Ma sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $12.70, for a total value of $25,400.00. Following the completion of the sale, the president now owns 2,928,467 shares in the company, valued at approximately $37,191,530.90. The trade was 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. Over the last quarter, insiders sold 36,054 shares of company stock worth $411,597. Company insiders own 19.52% of the company’s stock.

Hedge Funds Weigh In On Gyre Therapeutics

A number of large investors have recently bought and sold shares of the business. Wells Fargo & Company MN raised its stake in Gyre Therapeutics by 29.4% in 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Gyre Therapeutics by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 114,566 shares of the company’s stock worth $1,386,000 after buying an additional 918 shares in the last quarter. Barclays PLC raised its stake in Gyre Therapeutics by 13.5% in the fourth quarter. Barclays PLC now owns 10,543 shares of the company’s stock worth $128,000 after buying an additional 1,255 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Gyre Therapeutics by 11.1% in the fourth quarter. Bank of New York Mellon Corp now owns 13,896 shares of the company’s stock worth $168,000 after buying an additional 1,389 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in 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 buying an additional 1,996 shares in the last quarter. Institutional investors own 23.99% of the company’s stock.

Gyre Therapeutics Stock Up 20.0 %

The business’s 50 day moving average is $11.30 and its 200 day moving average is $12.24.

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.