Gyre Therapeutics, Inc. (NASDAQ:GYRE) Receives Average Recommendation of “Hold” from Brokerages

Shares of Gyre Therapeutics, Inc. (NASDAQ:GYRE) have been given a consensus rating of “Hold” by the five ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $17.00.

A number of research firms have issued reports on GYRE. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gyre Therapeutics in a research report on Wednesday, October 8th. Jefferies Financial Group started coverage on shares of Gyre Therapeutics in a research note on Friday, October 10th. They issued a “buy” rating and a $16.00 price target for the company. Wall Street Zen upgraded Gyre Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Zacks Research upgraded shares of Gyre Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. Finally, HC Wainwright initiated coverage on shares of Gyre Therapeutics in a report on Tuesday, August 26th. They set a “buy” rating and a $18.00 price objective on the stock.

Hedge Funds Weigh In On Gyre Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC acquired a new stake in Gyre Therapeutics in the third quarter valued at about $267,000. Alliancebernstein L.P. grew its position in shares of Gyre Therapeutics by 9.5% in the third quarter. Alliancebernstein L.P. now owns 21,830 shares of the company’s stock valued at $163,000 after purchasing an additional 1,900 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Gyre Therapeutics in the third quarter worth $111,000. Strs Ohio raised its stake in Gyre Therapeutics by 58.6% in the 3rd quarter. Strs Ohio now owns 21,100 shares of the company’s stock valued at $157,000 after purchasing an additional 7,800 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in shares of Gyre Therapeutics during the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 23.99% of the company’s stock.

Gyre Therapeutics Price Performance

Shares of GYRE opened at $8.04 on Wednesday. The firm has a 50-day simple moving average of $7.81 and a two-hundred day simple moving average of $7.80. Gyre Therapeutics has a 1-year low of $6.11 and a 1-year high of $14.42. The stock has a market cap of $774.49 million, a PE ratio of 268.09 and a beta of 1.96.

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.