Gyre Therapeutics (NASDAQ:GYRE) Sees Large Volume Increase – Time to Buy?

Shares of Gyre Therapeutics, Inc. (NASDAQ:GYRE) saw strong trading volume on Friday . 38,827 shares traded hands during trading, a decline of 47% from the previous session’s volume of 73,103 shares.The stock last traded at $9.96 and had previously closed at $9.78.

Gyre Therapeutics Stock Performance

The business’s 50 day moving average is $13.07 and its two-hundred day moving average is $12.59.

Hedge Funds Weigh In On Gyre Therapeutics

Several large investors have recently made changes to their positions in the business. FMR LLC bought a new stake in Gyre Therapeutics during the 3rd quarter valued at approximately $47,000. Barclays PLC raised its position in shares of Gyre Therapeutics by 281.8% during the third 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 last quarter. Rhumbline Advisers purchased a new position in shares of Gyre Therapeutics in the second quarter worth $123,000. Renaissance Technologies LLC bought a new position in shares of Gyre Therapeutics during the second quarter worth $166,000. Finally, Bank of New York Mellon Corp purchased a new position in Gyre Therapeutics during the second quarter valued at $218,000. 23.99% of the stock is currently owned by hedge funds and other institutional investors.

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.