Gyre Therapeutics (NASDAQ:GYRE) Sees Large Volume Increase – Should You Buy?

Gyre Therapeutics, Inc. (NASDAQ:GYRE) saw an uptick in trading volume on Thursday . 28,842 shares were traded during trading, a decline of 61% from the previous session’s volume of 74,771 shares.The stock last traded at $12.35 and had previously closed at $11.90.

Gyre Therapeutics Price Performance

The business has a fifty day simple moving average of $12.71 and a two-hundred day simple moving average of $12.63.

Hedge Funds Weigh In On Gyre Therapeutics

Several institutional investors have recently made changes to their positions in the business. FMR LLC bought a new stake in Gyre Therapeutics during the third quarter valued at approximately $47,000. Barclays PLC boosted its stake in shares of Gyre Therapeutics by 281.8% during the 3rd quarter. Barclays PLC now owns 9,288 shares of the company’s stock worth $116,000 after acquiring an additional 6,855 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of Gyre Therapeutics during the 2nd quarter valued at $123,000. Renaissance Technologies LLC purchased a new stake in shares of Gyre Therapeutics in the 2nd quarter worth $166,000. Finally, Bank of New York Mellon Corp bought a new position in Gyre Therapeutics in the 2nd quarter worth $218,000. 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.