Gyre Therapeutics (NASDAQ:GYRE) Trading Down 4.9% – Here’s Why

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s share price traded down 4.9% during trading on Wednesday . The company traded as low as $10.35 and last traded at $10.45. 38,002 shares were traded during mid-day trading, a decline of 48% from the average session volume of 72,405 shares. The stock had previously closed at $10.99.

Gyre Therapeutics Stock Performance

The firm’s 50-day simple moving average is $13.23 and its two-hundred day simple moving average is $12.63.

Hedge Funds Weigh In On Gyre Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC acquired a new stake in shares of Gyre Therapeutics during the third quarter worth approximately $47,000. Barclays PLC boosted its stake in shares of Gyre Therapeutics by 281.8% during the 3rd 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 period. Rhumbline Advisers acquired a new stake in shares of Gyre Therapeutics during the 2nd quarter valued at $123,000. Renaissance Technologies LLC purchased a new position in shares of Gyre Therapeutics during the 2nd quarter valued at $166,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Gyre Therapeutics in the second quarter worth $218,000. Hedge funds and other institutional investors own 23.99% of the company’s stock.

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.