Gyre Therapeutics (NASDAQ:GYRE) Shares Gap Down After Earnings Miss

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 traded.

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 the consensus estimate 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 Transactions at Gyre Therapeutics

In other news, President Songjiang Ma sold 2,000 shares of Gyre Therapeutics stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $12.70, for a total value of $25,400.00. Following the sale, the president now directly owns 2,928,467 shares of the company’s stock, valued at approximately $37,191,530.90. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 36,054 shares of company stock valued at $411,597. 19.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gyre Therapeutics

Large investors have recently made changes to their positions in the company. Wells Fargo & Company MN grew its position in Gyre Therapeutics by 29.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,016 shares of the company’s stock worth $49,000 after acquiring an additional 913 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Gyre Therapeutics by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 114,566 shares of the company’s stock worth $1,386,000 after acquiring an additional 918 shares in the last quarter. Barclays PLC boosted its position in shares of Gyre Therapeutics by 13.5% during the fourth quarter. Barclays PLC now owns 10,543 shares of the company’s stock valued at $128,000 after buying an additional 1,255 shares during the period. 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 period. Finally, Bank of America Corp DE boosted its position in shares of Gyre Therapeutics by 40.4% during the fourth quarter. Bank of America Corp DE now owns 6,937 shares of the company’s stock valued at $84,000 after buying an additional 1,996 shares during the period. 23.99% of the stock is owned by institutional investors.

Gyre Therapeutics Stock Performance

The company has a 50-day simple moving average of $11.30 and a 200-day simple moving average of $12.24.

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.