Gyre Therapeutics (NASDAQ:GYRE) Shares Gap Up – Time to Buy?

Gyre Therapeutics, Inc. (NASDAQ:GYRE) gapped up before the market opened on Monday . The stock had previously closed at $11.14, but opened at $11.55. Gyre Therapeutics shares last traded at $12.17, with a volume of 35,423 shares.

Gyre Therapeutics Stock Performance

The firm’s fifty day moving average is $12.86 and its 200 day moving average is $12.61.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GYRE. Charles Schwab Investment Management Inc. boosted its stake in shares of Gyre Therapeutics by 392.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 113,648 shares of the company’s stock valued at $1,425,000 after buying an additional 90,557 shares during the period. Rhumbline Advisers acquired a new stake in Gyre Therapeutics during the second quarter worth about $123,000. Renaissance Technologies LLC acquired a new position in shares of Gyre Therapeutics in the 2nd quarter valued at approximately $166,000. WINTON GROUP Ltd acquired a new stake in shares of Gyre Therapeutics during the 2nd quarter worth approximately $220,000. Finally, Bank of New York Mellon Corp bought a new position in Gyre Therapeutics in the second quarter valued at approximately $218,000. 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.