Gyre Therapeutics, Inc. (NASDAQ:GYRE) Sees Large Drop in Short Interest

Posted by Adam Masters on Nov 18th, 2024

Gyre Therapeutics, Inc. (NASDAQ:GYRE – Get Free Report) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 376,600 shares, a decline of 16.1% from the October 15th total of 448,700 shares. Based on an average daily trading volume, of 48,100 shares, the days-to-cover ratio is presently 7.8 days. Currently, 1.6% of the company’s shares are short sold.

Institutional Trading of Gyre Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of GYRE. FMR LLC bought a new position in Gyre Therapeutics during the third quarter valued at about $47,000. Barclays PLC increased its position in shares of Gyre Therapeutics by 281.8% during the third quarter. Barclays PLC now owns 9,288 shares of the company’s stock valued at $116,000 after purchasing an additional 6,855 shares during the period. Rhumbline Advisers acquired a new position in Gyre Therapeutics during the second quarter worth $123,000. Renaissance Technologies LLC acquired a new position in Gyre Therapeutics during the 2nd quarter worth about $166,000. Finally, Bank of New York Mellon Corp acquired a new position in Gyre Therapeutics in the second quarter valued at approximately $218,000. Institutional investors and hedge funds own 23.99% of the company’s stock.

Gyre Therapeutics Stock Performance

GYRE stock traded up $0.13 on Monday, hitting $13.25. 54,150 shares of the company were exchanged, compared to its average volume of 68,656. The business’s fifty day moving average is $13.83 and its two-hundred day moving average is $12.98. Gyre Therapeutics has a twelve month low of $8.26 and a twelve month high of $30.40.

Gyre Therapeutics Company Profile

(Get Free Report)

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.