Gyre Therapeutics (NASDAQ:GYRE) Shares Gap Up – Time to Buy?

Gyre Therapeutics, Inc. (NASDAQ:GYRE)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $11.70, but opened at $12.16. Gyre Therapeutics shares last traded at $12.71, with a volume of 46,205 shares traded.

Gyre Therapeutics Stock Performance

The company’s 50 day moving average price is $13.59 and its two-hundred day moving average price is $12.83.

Institutional Investors Weigh In On Gyre Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC purchased a new position in shares of Gyre Therapeutics during the third quarter valued at $47,000. Barclays PLC grew its holdings in Gyre Therapeutics by 281.8% during the 3rd quarter. Barclays PLC now owns 9,288 shares of the company’s stock worth $116,000 after acquiring an additional 6,855 shares in the last quarter. Rhumbline Advisers purchased a new position in Gyre Therapeutics during the 2nd quarter valued at about $123,000. Renaissance Technologies LLC purchased a new position in Gyre Therapeutics during the 2nd quarter valued at about $166,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Gyre Therapeutics in the 2nd quarter valued at about $218,000. 23.99% of the stock is owned by institutional investors.

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.