Gyre Therapeutics (NASDAQ:GYRE) Shares Down 5.9% – Time to Sell?

Gyre Therapeutics, Inc. (NASDAQ:GYRE) fell 5.9% on Thursday . The company traded as low as $12.13 and last traded at $12.15. 16,987 shares were traded during mid-day trading, a decline of 75% from the average session volume of 68,424 shares. The stock had previously closed at $12.91.

Gyre Therapeutics Price Performance

The company has a 50-day moving average price of $13.80 and a 200-day moving average price of $12.95.

Institutional Trading of Gyre Therapeutics

A number of institutional investors have recently modified their holdings of GYRE. FMR LLC acquired a new position in shares of Gyre Therapeutics during the third quarter worth about $47,000. Barclays PLC lifted its position in 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 in the last quarter. Rhumbline Advisers purchased a new position in Gyre Therapeutics in the 2nd quarter worth approximately $123,000. Renaissance Technologies LLC acquired a new stake in Gyre Therapeutics in the second quarter valued at approximately $166,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Gyre Therapeutics during the second quarter valued at approximately $218,000. Hedge funds and other institutional investors own 23.99% of the company’s stock.

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.