Gyre Therapeutics (NASDAQ:GYRE) Shares Gap Up – Should You Buy?

Gyre Therapeutics, Inc. (NASDAQ:GYREGet Free Report) gapped up prior to trading on Friday . The stock had previously closed at $7.15, but opened at $7.75. Gyre Therapeutics shares last traded at $8.35, with a volume of 136,664 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GYRE shares. Jefferies Financial Group started coverage on shares of Gyre Therapeutics in a research note on Friday. They issued a “buy” rating and a $16.00 price target on the stock. HC Wainwright started coverage on shares of Gyre Therapeutics in a research note on Tuesday, August 26th. They issued a “buy” rating and a $18.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gyre Therapeutics in a research note on Wednesday. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Read Our Latest Analysis on GYRE

Gyre Therapeutics Stock Performance

The company has a market cap of $766.63 million, a P/E ratio of 796.80 and a beta of 1.78. The firm has a 50 day moving average price of $7.62 and a 200-day moving average price of $8.12.

Gyre Therapeutics (NASDAQ:GYREGet Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.01). The company had revenue of $26.77 million for the quarter, compared to the consensus estimate of $30.80 million. Gyre Therapeutics had a return on equity of 7.67% and a net margin of 4.08%.

Hedge Funds Weigh In On Gyre Therapeutics

Institutional investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its position in shares of Gyre Therapeutics by 28.8% during the 2nd quarter. Bank of America Corp DE now owns 6,277 shares of the company’s stock worth $46,000 after purchasing an additional 1,402 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 purchasing an additional 3,244 shares during the period. JPMorgan Chase & Co. boosted its stake in Gyre Therapeutics by 84.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,461 shares of the company’s stock valued at $47,000 after purchasing an additional 2,961 shares during the period. Geode Capital Management LLC boosted its stake in Gyre Therapeutics by 28.6% during the 2nd quarter. Geode Capital Management LLC now owns 401,709 shares of the company’s stock valued at $2,953,000 after purchasing an additional 89,390 shares during the period. Finally, SBI Securities Co. Ltd. boosted its stake in Gyre Therapeutics by 87.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 232,299 shares of the company’s stock valued at $1,707,000 after purchasing an additional 108,670 shares during the period. 23.99% of the stock is currently owned by institutional investors.

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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