Thu Sep 19 08:06:33 UTC 2024: ## Gyre Therapeutics Sees Short Interest Drop in August

**New York, NY (MarketBeat News)** – Gyre Therapeutics, Inc. (NASDAQ: GYRE) experienced a significant decrease in short interest during August, according to data released on September 19th. Short interest dropped by 7% to 313,000 shares from 336,500 shares on August 15th. This represents 1.3% of the company’s total outstanding shares.

The decline in short interest indicates a potential shift in sentiment among investors, with fewer traders betting on a decline in the company’s stock price. The “days-to-cover” ratio, which measures the time it would take for short sellers to cover their positions, stands at 4.9 days, based on average daily volume.

GYRE stock opened at $13.87 on Thursday, trading within a 52-week range of $4.80 to $30.40. The stock’s 50-day and 200-day simple moving averages are $12.95 and $13.95, respectively.

Gyre Therapeutics reported earnings for the second quarter on August 13th, posting $0.01 EPS on revenue of $25.23 million. Analysts predict the company will post -0.45 earnings per share for the full year.

Several institutional investors have recently adjusted their holdings in Gyre Therapeutics. Renaissance Technologies LLC, Rhumbline Advisers, Bank of New York Mellon Corp, and WINTON GROUP Ltd all acquired new positions in the company during the second quarter. Institutional ownership currently stands at 23.99%.

Gyre Therapeutics is a biopharmaceutical company specializing in the development and commercialization of Hydronidone, a treatment for Metabolic Dysfunction Associated Steatohepatitis (MAS) in the United States. Hydronidone is also being evaluated for the treatment of liver fibrosis across various chronic liver diseases.

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