Gyre Therapeutics (NASDAQ:GYRE) Sees Unusually-High Trading Volume – Should You Buy?

Gyre Therapeutics, Inc. (NASDAQ:GYRE) saw unusually-high trading volume on Thursday . Approximately 28,842 shares changed hands during mid-day trading, a decline of 61% from the previous session’s volume of 74,771 shares.The stock last traded at $12.35 and had previously closed at $11.90.

Gyre Therapeutics Stock Down 5.2 %

The stock has a 50 day simple moving average of $12.71 and a 200-day simple moving average of $12.63.

Institutional Investors Weigh In On Gyre Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC bought a new position in shares of Gyre Therapeutics during the third quarter worth $47,000. Barclays PLC lifted its stake in Gyre Therapeutics by 281.8% in the 3rd quarter. Barclays PLC now owns 9,288 shares of the company’s stock worth $116,000 after purchasing an additional 6,855 shares in the last quarter. State Street Corp boosted its holdings in shares of Gyre Therapeutics by 8.8% during the 3rd quarter. State Street Corp now owns 104,490 shares of the company’s stock valued at $1,310,000 after purchasing an additional 8,412 shares during the last quarter. Rhumbline Advisers purchased a new position in shares of Gyre Therapeutics during the second quarter valued at about $123,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Gyre Therapeutics in the second quarter worth about $166,000. 23.99% of the stock is owned by hedge funds and other institutional investors.

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.