Burning Rock Biotech (NASDAQ:BNR) Trading Up 7.2% – What’s Next?

Burning Rock Biotech Limited Sponsored ADR (NASDAQ:BNR) shot up 7.2% during trading on Wednesday . The stock traded as high as $13.38 and last traded at $12.52. Approximately 50,520 shares changed hands during trading, an increase of 4% from the average session volume of 48,397 shares. The stock had previously closed at $11.68.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wall Street Zen lowered Burning Rock Biotech from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings upgraded Burning Rock Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 10th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Burning Rock Biotech Stock Performance

The business’s 50-day moving average price is $10.04 and its 200 day moving average price is $13.48. The company has a market cap of $131.71 million, a P/E ratio of -14.39 and a beta of 1.38.

Burning Rock Biotech (NASDAQ:BNR) last released its quarterly earnings data on Thursday, September 10th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($2.29) by $2.09. The company had revenue of $19.84 million for the quarter, compared to analyst estimates of $19.21 million. Burning Rock Biotech had a negative net margin of 13.60% and a negative return on equity of 12.98%.

Insider Buying and Selling

In other Burning Rock Biotech news, Director Yusheng Han purchased 250,000 shares of the stock in a transaction on Wednesday, June 24th. The shares were purchased at an average price of $8.00 per share, with a total value of $2,000,000.00. Following the completion of the transaction, the director directly owned 18,379,186 shares in the company, valued at $147,033,488. This represents a 1.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders bought a total of 385,540 shares of company stock worth $3,023,768 in the last three months. Company insiders own 30.30% of the company’s stock.

Institutional Trading of Burning Rock Biotech

A number of hedge funds have recently made changes to their positions in BNR. Crcm LP boosted its holdings in shares of Burning Rock Biotech by 121.8% during the 4th quarter. Crcm LP now owns 491,426 shares of the company’s stock worth $9,902,000 after buying an additional 269,851 shares during the period. Prospera Financial Services Inc grew its stake in Burning Rock Biotech by 26.0% in the 4th quarter. Prospera Financial Services Inc now owns 31,185 shares of the company’s stock valued at $628,000 after buying an additional 6,430 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Burning Rock Biotech by 13.8% in the 1st quarter. Renaissance Technologies LLC now owns 35,407 shares of the company’s stock valued at $571,000 after acquiring an additional 4,290 shares during the period. 30.03% of the stock is owned by institutional investors and hedge funds.

About Burning Rock Biotech

Burning Rock Biotech Limited is a biotechnology company focused on precision oncology. The company develops and commercializes next-generation sequencing (NGS)-based tests designed to support cancer screening, diagnosis, treatment selection and disease monitoring.

Its products and services include tumor profiling and liquid biopsy tests that analyze genetic changes associated with cancer. Burning Rock also provides testing services to hospitals, physicians and biopharmaceutical companies, including services intended to help identify patients for clinical trials and evaluate targeted cancer therapies.

Founded in 2014, Burning Rock is headquartered in Guangzhou, China, and primarily serves the Chinese healthcare and pharmaceutical markets, with additional activities connected to international clinical development.