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

Gyre Therapeutics, Inc. (NASDAQ:GYREGet Free Report)’s share price gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. 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 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03). The company had revenue of $27.87 million for the quarter, compared to analyst estimates of $23.50 million. Gyre Therapeutics had a negative return on equity of 118.43% and a negative net margin of 84.57%.

Analysts Set New Price Targets

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

Get Our Latest Analysis on GYRE

Insider Activity

In related news, President Songjiang Ma sold 2,000 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $12.70, for a total transaction of $25,400.00. Following the sale, the president now owns 2,928,467 shares in the company, valued at $37,191,530.90. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 36,054 shares of company stock valued at $409,057. Company insiders own 19.52% of the company’s stock.

Hedge Funds Weigh In On Gyre Therapeutics

Several institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in shares of Gyre Therapeutics in the 4th quarter worth approximately $1,225,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Gyre Therapeutics by 392.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 113,648 shares of the company’s stock valued at $1,425,000 after acquiring an additional 90,557 shares during the period. Geode Capital Management LLC grew its position in shares of Gyre Therapeutics by 16.9% during the third quarter. Geode Capital Management LLC now owns 303,647 shares of the company’s stock worth $3,808,000 after acquiring an additional 43,840 shares during the last quarter. Advantage Alpha Capital Partners LP acquired a new stake in shares of Gyre Therapeutics in the 3rd quarter worth about $334,000. Finally, Northern Trust Corp boosted its stake in Gyre Therapeutics by 9.1% during the 4th quarter. Northern Trust Corp now owns 103,382 shares of the company’s stock valued at $1,251,000 after purchasing an additional 8,624 shares during the period. 23.99% of the stock is owned by institutional investors.

Gyre Therapeutics Stock Down 24.8 %

The firm’s 50 day simple moving average is $11.32 and its 200 day simple moving average is $12.29.

Gyre Therapeutics Company Profile

(Get Free Report)

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.

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