Gyre Therapeutics, Inc. (NASDAQ:GYRE) Sees Significant Decline in Short Interest

Gyre Therapeutics, Inc. (NASDAQ:GYRE) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 376,600 shares, a drop of 16.1% from the October 15th total of 448,700 shares. Based on an average daily trading volume, of 48,100 shares, the short-interest ratio is presently 7.8 days. Approximately 1.6% of the shares of the stock are short sold.

Institutional Trading of Gyre Therapeutics

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

Gyre Therapeutics Stock Performance

Shares of NASDAQ:GYRE traded up $0.13 during trading on Monday, reaching $13.25. 54,150 shares of the company traded hands, compared to its average volume of 68,656. Gyre Therapeutics has a 52-week low of $8.26 and a 52-week high of $30.40. The business’s fifty day moving average is $13.83 and its 200-day moving average is $12.98.

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.