Gyre Therapeutics (NASDAQ:GYRE) Shares Gap Up – Still a Buy?

Shares of Gyre Therapeutics, Inc. (NASDAQ:GYRE) gapped up before the market opened on Friday . The stock had previously closed at $10.47, but opened at $10.88. Gyre Therapeutics shares last traded at $11.13, with a volume of 29,084 shares changing hands.

Gyre Therapeutics Stock Performance

The firm’s 50 day moving average is $13.31 and its 200 day moving average is $12.68.

Hedge Funds Weigh In On Gyre Therapeutics

A number of institutional investors have recently added to or reduced their stakes in GYRE. Barclays PLC grew its stake in Gyre Therapeutics by 281.8% in the 3rd quarter. Barclays PLC now owns 9,288 shares of the company’s stock worth $116,000 after buying an additional 6,855 shares in the last quarter. Geode Capital Management LLC increased its stake in Gyre Therapeutics by 16.9% in the third quarter. Geode Capital Management LLC now owns 303,647 shares of the company’s stock valued at $3,808,000 after acquiring an additional 43,840 shares during the last quarter. State Street Corp raised its position in Gyre Therapeutics by 8.8% during the third quarter. State Street Corp now owns 104,490 shares of the company’s stock valued at $1,310,000 after purchasing an additional 8,412 shares in the last quarter. FMR LLC purchased a new position in shares of Gyre Therapeutics in the 3rd quarter worth about $47,000. Finally, Advantage Alpha Capital Partners LP purchased a new position in shares of Gyre Therapeutics during the 3rd quarter valued at about $334,000. 23.99% of the stock is currently owned by institutional investors.

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.