Gyre Therapeutics (NASDAQ:GYRE) Stock Price Down 4.5% – Time to Sell?

Shares of Gyre Therapeutics, Inc. (NASDAQ:GYRE) traded down 4.5% on Wednesday . The stock traded as low as $11.53 and last traded at $11.54. 45,000 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 68,897 shares. The stock had previously closed at $12.09.

Gyre Therapeutics Trading Down 3.7 %

The business has a 50-day moving average of $13.67 and a 200 day moving average of $12.86.

Hedge Funds Weigh In On Gyre Therapeutics

Hedge funds have recently made changes to their positions in the business. FMR LLC bought a new position in shares of Gyre Therapeutics in the third quarter worth about $47,000. Barclays PLC boosted its stake in Gyre Therapeutics by 281.8% during the third quarter. Barclays PLC now owns 9,288 shares of the company’s stock valued at $116,000 after buying an additional 6,855 shares during the last quarter. Rhumbline Advisers bought a new position in Gyre Therapeutics during the second quarter valued at approximately $123,000. Renaissance Technologies LLC bought a new position in Gyre Therapeutics during the second quarter valued at approximately $166,000. Finally, Bank of New York Mellon Corp bought a new position in Gyre Therapeutics during 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.