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In a recent regulatory filing, Gyre Therapeutics, Inc. (NASDAQ:GYRE), a pharmaceutical company with a market capitalization of $980 million, disclosed that its President, Ma Songjiang, executed a series of stock sales amounting to $45,480. The transactions, carried out on February 27 and 28, involved the sale of 4,000 shares of common stock at prices ranging between $11.33 and $11.41 per share. According to InvestingPro analysis, the stock appears overvalued at current levels, despite showing a strong 10% return over the past week.
These sales were conducted under a pre-established Rule 10b5-1 trading plan, which was adopted on September 13, 2024. Following the transactions, Songjiang’s holdings decreased to 2,851,260 shares, which are indirectly owned by his spouse.
The trades were executed in multiple transactions, with the average sale prices reported for each day. Gyre Therapeutics, based in San Diego, operates in the pharmaceutical preparations sector.
In other recent news, Gyre Therapeutics 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. The company reported changes at its subsidiary, Gyre Pharmaceuticals, with Ying Luo stepping down as Chairman to focus on his role at GNI Group Ltd., and Songjiang Ma taking over as the new Chairman. Gyre Pharmaceuticals is advancing its pipeline in China, including ongoing clinical trials for F351 and the commercialization of ETUARY®, which achieved net sales of $112.1 million in 2023.
The company is currently focused on developing and commercializing its drug F351 for MASH-associated fibrosis in the U.S. Zhang’s extensive experience includes his current role as Managing Partner at String Capital Management and previous positions at AEON Life Insurance (NSE:LIFI) Company and Japan Asia Investment Co. Han Ying, CEO of Gyre Therapeutics, expressed enthusiasm for Zhang’s addition to the board, noting the potential for a transformative year ahead. Zhang’s academic credentials include a B.S. from Fudan University and an M.B.A. from the University of Chicago Booth School of Business.
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