Gyre Therapeutics (NASDAQ:GYRE) Shares Down 18.9%

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s stock price was down 18.9% during trading on Monday . The company traded as low as $8.26 and last traded at $8.75. Approximately 16,410 shares traded hands during trading, a decline of 78% from the average daily volume of 75,608 shares. The stock had previously closed at $10.79.

Gyre Therapeutics Stock Performance

The business’s 50 day simple moving average is $12.22 and its 200-day simple moving average is $14.79.

Gyre Therapeutics (NASDAQ:GYRE) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.04 earnings per share (EPS) for the quarter. The business had revenue of $27.17 million during the quarter. Equities analysts predict that Gyre Therapeutics, Inc. will post -0.45 EPS for the current fiscal year.

Insider Activity

In other news, Director Nassim Usman sold 3,452 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $12.00, for a total value of $41,424.00. Following the completion of the sale, the director now owns 1,636 shares in the company, valued at approximately $19,632. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Gyre Therapeutics

A hedge fund recently bought a new stake in Gyre Therapeutics stock. Bank of New York Mellon Corp bought a new position in Gyre Therapeutics, Inc. (NASDAQ:GYRE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 18,266 shares of the company’s stock, valued at approximately $218,000. 23.99% of the stock is currently owned by institutional investors and hedge funds.

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.