Gyre Therapeutics (NASDAQ:GYRE) Stock Price Down 4.1%

Gyre Therapeutics, Inc. (NASDAQ:GYRE) was down 4.1% on Wednesday . The company traded as low as $15.26 and last traded at $15.35. Approximately 6,659 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 83,339 shares. The stock had previously closed at $16.00.

Gyre Therapeutics Price Performance

The company has a market cap of $1.34 billion, a price-to-earnings ratio of -0.77 and a beta of 2.11. The stock’s fifty day simple moving average is $17.18.

Hedge Funds Weigh In On Gyre Therapeutics

An institutional investor recently bought a new position in Gyre Therapeutics stock. Northern Trust Corp purchased a new stake in Gyre Therapeutics, Inc. (NASDAQ:GYRE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 24,614 shares of the company’s stock, valued at approximately $632,000. Northern Trust Corp owned approximately 0.97% of Gyre Therapeutics as of its most recent filing with the Securities and Exchange Commission. 23.99% of the stock is currently owned by hedge funds and other institutional investors.

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.