Shares of Gyre Therapeutics, Inc. (NASDAQ: GYRE) experienced a notable increase at the start of trading on Monday, opening at $7.41, a rise from the previous closing price of $6.81. The stock has since climbed further, reaching $7.73 with a trading volume of 54,810 shares.
Analyst Ratings Influence Stock Movement
Recent commentary from various financial analysts has contributed to the stock’s positive trajectory. On November 14, 2023, Zacks Research upgraded Gyre Therapeutics from a “strong sell” to a “hold” rating. The following month, Jefferies Financial Group initiated coverage with a “buy” rating and a price target of $16.00. Conversely, Weiss Ratings reaffirmed a “sell (d)” rating earlier in October.
Overall, three investment analysts currently recommend a “buy” rating for Gyre Therapeutics, while one analyst suggests holding and one advises selling. According to MarketBeat, the average rating for the stock stands at “hold” with a consensus target price of $17.00.
Institutional Investor Activity
Institutional investors have also shown increasing interest in Gyre Therapeutics. Notably, Geode Capital Management LLC raised its stake by 28.6% in the second quarter, now holding 401,709 shares valued at approximately $2.95 million. Similarly, SBI Securities Co. Ltd. boosted its holdings by 87.9%, acquiring an additional 108,670 shares to reach a total of 232,299 shares, worth around $1.71 million.
Other institutional movements include Millennium Management LLC, which purchased a new stake worth about $267,000, and AllianceBernstein L.P., which increased its holdings by 9.5%. Currently, institutional and hedge fund ownership accounts for 23.99% of Gyre Therapeutics’ stock.
Gyre Therapeutics is a clinical-stage biotechnology company focused on developing small-molecule therapies targeting lipid biology to treat various metabolic, inflammatory, and neurodegenerative diseases. The company employs a unique platform that integrates lipidomic profiling with drug discovery tools to identify compounds aimed at restoring normal protein function in cells affected by disease. Gyre’s preclinical pipeline targets conditions such as nonalcoholic steatohepatitis (NASH), Alzheimer’s disease, and autoimmune disorders.
As the market continues to respond to these developments, investors and analysts will be closely monitoring Gyre Therapeutics for further updates and performance trends.
