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In a recent move, Ma Songjiang, President and Director of Gyre Therapeutics, Inc. (NASDAQ:GYRE), sold a total of 4,000 shares of the company’s common stock over two consecutive days. The transactions, disclosed in a filing with the Securities and Exchange Commission, were executed under a Rule 10b5-1 trading plan.
On February 19, Songjiang sold 2,000 shares at a weighted average price of $12.29 per share, with prices ranging from $12.10 to $12.62. The following day, an additional 2,000 shares were sold at a weighted average price of $12.40 per share, within a price range of $12.15 to $12.61. The total value of these sales amounted to $49,380. InvestingPro data shows the company maintains strong liquidity with a current ratio of 3.72, while receiving a "FAIR" overall financial health rating.
Following these transactions, Songjiang retains indirect ownership of 2,863,260 shares, held by his spouse. Discover more insights about GYRE’s valuation and 7 additional key ProTips with an InvestingPro subscription.
In other recent news, Gyre Therapeutics announced the appointment of Ping Zhang as the lead independent director of its Board of Directors. Zhang will also serve on the Nominating and Corporate Governance Committee. At its subsidiary, Gyre Pharmaceuticals, Ying Luo stepped down as Chairman, with Songjiang Ma taking over the role. The company highlighted Zhang’s extensive financial background, including his current position as a Managing Partner at String Capital Management. Gyre Pharmaceuticals, part of the Gyre Therapeutics group, reported 2023 net sales of $112.1 million for ETUARY® in the People’s Republic of China. This subsidiary is also advancing its pipeline, including ongoing clinical trials for F351 and the development of treatments for various conditions. CEO Han Ying expressed optimism about Zhang’s addition to the board, suggesting potential transformative developments for the company.
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