Gyre Therapeutics (NASDAQ:GYRE) Shares Down 4.9% – Here’s What Happened

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s stock price traded down 4.9% during trading on Wednesday . The company traded as low as $10.35 and last traded at $10.45. 38,002 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 72,405 shares. The stock had previously closed at $10.99.

Gyre Therapeutics Price Performance

The company has a 50 day moving average of $13.14 and a 200 day moving average of $12.59.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GYRE. FMR LLC acquired a new position in Gyre Therapeutics during the third quarter worth approximately $47,000. Barclays PLC grew its stake in shares of Gyre Therapeutics by 281.8% during the 3rd 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 period. State Street Corp increased its holdings in shares of Gyre Therapeutics by 8.8% during the 3rd quarter. State Street Corp now owns 104,490 shares of the company’s stock worth $1,310,000 after buying an additional 8,412 shares during the last quarter. Rhumbline Advisers purchased a new position in shares of Gyre Therapeutics in the 2nd quarter worth $123,000. Finally, Renaissance Technologies LLC acquired a new position in Gyre Therapeutics in the second quarter valued at $166,000. 23.99% of the stock is currently owned by hedge funds and other 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.