Gyre Therapeutics (NASDAQ:GYRE) Stock Price Up 14.5% on Better-Than-Expected Earnings

Shares of Gyre Therapeutics, Inc. (NASDAQ:GYRE) shot up 14.5% during mid-day trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $4.57 and last traded at $4.59. 132,803 shares traded hands during trading, an increase of 25% from the average daily volume of 106,568 shares. The stock had previously closed at $4.01.

The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.19. Gyre Therapeutics had a negative return on equity of 6.57% and a negative net margin of 15.47%. The business had revenue of $32.93 million during the quarter, compared to analysts’ expectations of $28.40 million.

Analyst Upgrades and Downgrades

GYRE has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Gyre Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Zacks Research raised shares of Gyre Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 6th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Gyre Therapeutics in a report on Wednesday. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Gyre Therapeutics during the second quarter worth about $6,550,000. SBI Securities Co. Ltd. lifted its position in Gyre Therapeutics by 1.8% in the third quarter. SBI Securities Co. Ltd. now owns 169,717 shares of the company’s stock valued at $1,244,000 after purchasing an additional 2,967 shares during the period. Bank of America Corp DE acquired a new stake in Gyre Therapeutics in the second quarter valued at about $83,000. Deutsche Bank AG acquired a new stake in Gyre Therapeutics in the second quarter valued at about $118,000. Finally, Bank of New York Mellon Corp purchased a new stake in Gyre Therapeutics in the 2nd quarter valued at approximately $414,000. Institutional investors and hedge funds own 23.99% of the company’s stock.

Gyre Therapeutics Trading Up 14.5%

The stock has a fifty day simple moving average of $6.55 and a two-hundred day simple moving average of $6.92. The company has a market cap of $511.83 million, a PE ratio of -21.56 and a beta of 2.14.

About Gyre Therapeutics

Gyre Therapeutics, Inc is a biopharmaceutical company focused on developing therapies for fibrotic diseases, including pulmonary and liver fibrosis. The company’s lead development program is F351, also known as hydronidone, an investigational small-molecule therapy designed to inhibit the progression of fibrosis.

F351 is being evaluated in clinical programs for idiopathic pulmonary fibrosis and liver fibrosis associated with chronic liver disease, including nonalcoholic steatohepatitis-related fibrosis.