Gyre Therapeutics (NASDAQ:GYRE) Announces Earnings Results

Gyre Therapeutics (NASDAQ:GYRE) announced its quarterly earnings results on Monday. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03), Zacks reports. Gyre Therapeutics had a negative net margin of 84.57% and a negative return on equity of 118.43%. The company had revenue of $27.87 million during the quarter, compared to analyst estimates of $23.50 million.

Gyre Therapeutics Stock Down 20.1 %

NASDAQ:GYRE traded down $2.47 during trading hours on Tuesday, hitting $9.82. The company had a trading volume of 274,400 shares, compared to its average volume of 75,003. The company has a 50-day moving average of $11.32 and a 200 day moving average of $12.29. Gyre Therapeutics has a 1 year low of $8.26 and a 1 year high of $19.00.

Insider Buying and Selling at Gyre Therapeutics

In other Gyre Therapeutics news, President Songjiang Ma sold 2,000 shares of the company’s stock in a transaction 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 directly owns 2,928,467 shares in the company, valued at $37,191,530.90. This represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 36,054 shares of company stock worth $409,057 in the last three months. 19.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Gyre Therapeutics

A hedge fund recently raised its stake in Gyre Therapeutics stock. Bank of America Corp DE lifted its holdings in shares of Gyre Therapeutics, Inc. (NASDAQ:GYRE) by 40.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,937 shares of the company’s stock after purchasing an additional 1,996 shares during the quarter. Bank of America Corp DE’s holdings in Gyre Therapeutics were worth $84,000 as of its most recent filing with the Securities and Exchange Commission. 23.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.