SAN DIEGO—Ma Songjiang, the President of Gyre Therapeutics, Inc. (NASDAQ:GYRE), recently sold a portion of his holdings in the company. The stock has shown strong momentum with a 13.62% gain over the past week, according to InvestingPro data. According to a filing with the Securities and Exchange Commission, Songjiang executed two separate transactions on January 14 and January 15, selling a total of 4,000 shares of common stock.
The sales were conducted at a weighted average price range of $10.39 to $10.85 per share, amounting to a total transaction value of $42,480. These transactions were carried out under a pre-established Rule 10b5-1 trading plan, which was adopted on September 13, 2024.
Following these transactions, Songjiang retains ownership of 2,911,138 shares, held indirectly by his spouse. This activity is part of routine financial management and planning, as disclosed in the filing.
In other recent news, Gyre Therapeutics has made significant changes to its leadership. The biotechnology firm announced the appointment of Ping Zhang as the lead independent director of its Board of Directors. Zhang, with a strong financial background, will also serve on the Nominating and Corporate Governance Committee. Concurrently, Gyre Pharmaceuticals, a subsidiary of Gyre Therapeutics, has seen a change in chairmanship with Songjiang Ma taking over from Ying Luo.
Zhang's vast experience includes his current position as a Managing Partner at String Capital Management and previous roles at AEON Life Insurance (NS:LIFI) Company and Japan Asia Investment Co. He also held directorships at GNI and Asian Star Co. His academic credentials include a B.S. from Fudan University and an M.B.A. from the University of Chicago Booth School of Business.
In terms of financials, Gyre Therapeutics reported total revenues of $105.03 million in the recent past, with a notable gross profit margin of 96.23%. Its subsidiary, Gyre Pharmaceuticals, is also making strides in the People's Republic of China, including ongoing clinical trials for F351 and the commercialization of ETUARY® (Pirfenidone capsule), which achieved 2023 net sales of $112.1 million. These are among the recent developments for Gyre Therapeutics.
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