Gyre Therapeutics (NASDAQ:GYRE) Shares Gap Down on Disappointing Earnings

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s share price gapped down before the market opened on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $12.28, but opened at $11.50. Gyre Therapeutics shares last traded at $10.07, with a volume of 177,811 shares changing hands.

The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). Gyre Therapeutics had a negative return on equity of 118.43% and a negative net margin of 84.57%. The company had revenue of $27.87 million during the quarter, compared to analyst estimates of $23.50 million.

Analysts Set New Price Targets

Separately, Noble Financial started coverage on Gyre Therapeutics in a report on Tuesday, March 11th. They issued an “outperform” rating on the stock.

Insider Activity 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 shares were sold at an average price of $12.70, for a total transaction of $25,400.00. Following the transaction, the president now owns 2,928,467 shares in the company, valued at approximately $37,191,530.90. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 36,054 shares of company stock valued at $409,057. 19.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Gyre Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC bought a new position in Gyre Therapeutics in the 3rd quarter valued at about $47,000. Wells Fargo & Company MN increased its holdings in Gyre Therapeutics by 29.4% during the 4th quarter. Wells Fargo & Company MN now owns 4,016 shares of the company’s stock worth $49,000 after purchasing an additional 913 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Gyre Therapeutics by 40.4% in the fourth quarter. Bank of America Corp DE now owns 6,937 shares of the company’s stock worth $84,000 after purchasing an additional 1,996 shares during the last quarter. Barclays PLC lifted its holdings in shares of Gyre Therapeutics by 281.8% in the third quarter. Barclays PLC now owns 9,288 shares of the company’s stock valued at $116,000 after purchasing an additional 6,855 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Gyre Therapeutics by 11.1% during the fourth quarter. Bank of New York Mellon Corp now owns 13,896 shares of the company’s stock valued at $168,000 after buying an additional 1,389 shares during the last quarter. 23.99% of the stock is owned by institutional investors.

Gyre Therapeutics Trading Down 30.2 %

The company has a fifty day moving average of $11.29 and a 200-day moving average of $12.25.

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.