Gyre Therapeutics (NASDAQ:GYRE) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Gyre Therapeutics (NASDAQ:GYRE) from a hold rating to a buy rating in a research note released on Saturday morning.

Other equities analysts have also recently issued reports about the company. Weiss Ratings reissued a “sell (d)” rating on shares of Gyre Therapeutics in a report on Wednesday, October 8th. Jefferies Financial Group initiated coverage on shares of Gyre Therapeutics in a research note on Friday, October 10th. They issued a “buy” rating and a $16.00 target price for the company. Zacks Research downgraded shares of Gyre Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 16th. Finally, HC Wainwright initiated coverage on shares of Gyre Therapeutics in a research note on Tuesday, August 26th. They issued a “buy” rating and a $18.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $17.00.

Gyre Therapeutics Price Performance

Shares of Gyre Therapeutics stock opened at $7.99 on Friday. Gyre Therapeutics has a 1 year low of $6.11 and a 1 year high of $14.42. The business has a 50 day moving average price of $7.75 and a 200 day moving average price of $8.09. The company has a market capitalization of $769.70 million, a P/E ratio of 799.80 and a beta of 1.88.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new position in Gyre Therapeutics during the third quarter valued at approximately $38,000. Bank of America Corp DE raised its stake in shares of Gyre Therapeutics by 28.8% in the 2nd quarter. Bank of America Corp DE now owns 6,277 shares of the company’s stock valued at $46,000 after acquiring an additional 1,402 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Gyre Therapeutics by 84.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,461 shares of the company’s stock valued at $47,000 after acquiring an additional 2,961 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Gyre Therapeutics by 77.8% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,413 shares of the company’s stock valued at $54,000 after acquiring an additional 3,244 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP boosted its position in Gyre Therapeutics by 54.0% during the 1st quarter. Advantage Alpha Capital Partners LP now owns 13,663 shares of the company’s stock worth $105,000 after purchasing an additional 4,790 shares during the period. 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.