Gyre Therapeutics (NASDAQ:GYRE) Shares Down 4.1%

Gyre Therapeutics, Inc. (NASDAQ:GYRE) dropped 4.1% on Wednesday . The stock traded as low as $15.26 and last traded at $15.35. Approximately 6,659 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 83,339 shares. The stock had previously closed at $16.00.

Gyre Therapeutics Price Performance

The firm has a 50-day moving average price of $17.31.

Institutional Investors Weigh In On Gyre Therapeutics

A hedge fund recently bought a new stake in Gyre Therapeutics stock. Northern Trust Corp bought a new position in Gyre Therapeutics, Inc. (NASDAQ:GYRE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 24,614 shares of the company’s stock, valued at approximately $632,000. Northern Trust Corp owned 0.97% of Gyre Therapeutics at the end of the most recent reporting period. Hedge funds and other institutional investors own 23.99% of the company’s stock.

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.