Gyre Therapeutics (NASDAQ:GYRE) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Gyre Therapeutics (NASDAQ:GYRE) from a hold rating to a strong sell rating in a research note released on Thursday morning,Zacks.com reports.

GYRE has been the subject of several other research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gyre Therapeutics in a research note on Wednesday, October 8th. Jefferies Financial Group began coverage on Gyre Therapeutics in a research note on Friday, October 10th. They issued a “buy” rating and a $16.00 target price for the company. Finally, HC Wainwright began coverage on Gyre Therapeutics in a research note on Tuesday, August 26th. They set a “buy” rating and a $18.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.00.

Gyre Therapeutics Trading Down 5.0%

GYRE stock opened at $8.30 on Thursday. The stock has a market cap of $799.40 million, a price-to-earnings ratio of 830.83 and a beta of 1.78. The company’s 50 day moving average is $7.76 and its 200 day moving average is $8.14. Gyre Therapeutics has a 1-year low of $6.11 and a 1-year high of $19.00.

Gyre Therapeutics (NASDAQ:GYRE) last issued its 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 firm had revenue of $26.77 million during the quarter, compared to analysts’ expectations of $30.80 million. Gyre Therapeutics had a return on equity of 7.67% and a net margin of 4.08%.

Institutional Trading of Gyre Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GYRE. Bank of America Corp DE lifted its stake in Gyre Therapeutics by 28.8% in the second quarter. Bank of America Corp DE now owns 6,277 shares of the company’s stock worth $46,000 after acquiring an additional 1,402 shares during the period. JPMorgan Chase & Co. lifted its stake in Gyre Therapeutics by 84.6% in the second quarter. JPMorgan Chase & Co. now owns 6,461 shares of the company’s stock worth $47,000 after acquiring an additional 2,961 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Gyre Therapeutics by 77.8% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,413 shares of the company’s stock worth $54,000 after acquiring an additional 3,244 shares during the period. Advantage Alpha Capital Partners LP lifted its stake in Gyre Therapeutics by 54.0% in the first quarter. Advantage Alpha Capital Partners LP now owns 13,663 shares of the company’s stock worth $105,000 after acquiring an additional 4,790 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Gyre Therapeutics by 18.7% in the first quarter. Bank of New York Mellon Corp now owns 16,492 shares of the company’s stock worth $127,000 after acquiring an additional 2,596 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.