Newegg commerce: Galkin family buys $5.8M in NEGG stock
Ma Songjiang, President and Director of Gyre Therapeutics, Inc. (NASDAQ:GYRE), a biopharmaceutical company currently valued at approximately $957 million, recently sold a total of 4,000 shares of the company’s common stock. According to InvestingPro analysis, GYRE currently trades above its Fair Value, with a "FAIR" overall financial health rating. The transactions, executed on March 3 and March 4, were conducted under a pre-arranged Rule 10b5-1 trading plan. The sales, which amounted to a total value of $44,180, were executed at prices ranging from $10.86 to $11.23 per share. The stock currently trades at $11.12, down nearly 47% over the past year. InvestingPro data reveals the company operates with moderate debt levels and maintains strong liquidity, with current assets exceeding short-term obligations by 3.7x.
Following these transactions, Ma Songjiang retains indirect ownership of 2,847,260 shares, held by his spouse. The trading plan was adopted on September 13, 2024, ensuring compliance with regulatory requirements. While the company maintains a robust gross profit margin of 96%, InvestingPro analysis indicates it is not currently profitable, with additional insights available to subscribers.
In other recent news, Gyre Therapeutics has announced the appointment of Ping Zhang as the lead independent director of its Board of Directors. Zhang, who has a strong financial background, will also serve on the Nominating and Corporate Governance Committee. Additionally, changes have occurred at Gyre Pharmaceuticals, an indirectly owned subsidiary, with Ying Luo stepping down as Chairman to focus on his role at GNI Group Ltd. Songjiang Ma has been appointed as the new Chairman of Gyre Pharmaceuticals. Gyre Pharmaceuticals continues to advance its pipeline in the People’s Republic of China, including ongoing clinical trials for F351 and the commercialization of ETUARY® with 2023 net sales of $112.1 million. The company is also developing treatments for various conditions, such as COPD, PAH, and ALF/ACLF. These developments are part of Gyre Therapeutics’ broader strategy, informed by its experience in mechanistic and clinical studies. The information was based on a press release statement from Gyre Therapeutics.
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