Burning Rock Biotech (NASDAQ:BNR) Posts Quarterly Earnings Results, Beats Expectations By $2.09 EPS

Burning Rock Biotech (NASDAQ:BNR) issued its quarterly earnings data on Thursday. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($2.29) by $2.09, Zacks reports. The business 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 12.86%.

Burning Rock Biotech Stock Up 5.7%

Shares of NASDAQ BNR traded up $0.66 during midday trading on Friday, reaching $12.28. The company’s stock had a trading volume of 50,948 shares, compared to its average volume of 35,071. The stock has a 50 day simple moving average of $9.98 and a 200-day simple moving average of $13.86. The company has a current ratio of 3.05, a quick ratio of 2.81 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $129.16 million, a price-to-earnings ratio of -14.11 and a beta of 1.38. Burning Rock Biotech has a fifty-two week low of $6.79 and a fifty-two week high of $41.72.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BNR shares. Weiss Ratings upgraded Burning Rock Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Wall Street Zen lowered Burning Rock Biotech from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Burning Rock Biotech presently has a consensus rating of “Sell”.

Insiders Place Their Bets

In other Burning Rock Biotech news, Director Yusheng Han bought 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was acquired 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 owned 18,379,186 shares in the company, valued at approximately $147,033,488. This trade represents a 1.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired a total of 496,650 shares of company stock valued at $4,023,758 over the last ninety days. 30.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Burning Rock Biotech

A number of large investors have recently modified their holdings of BNR. Renaissance Technologies LLC increased its position in shares of Burning Rock Biotech by 13.8% in the first 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 last quarter. Marshall Wace LLP acquired a new position in Burning Rock Biotech during the fourth quarter valued at approximately $220,000. Crcm LP boosted its position in Burning Rock Biotech by 121.8% during the fourth quarter. Crcm LP now owns 491,426 shares of the company’s stock valued at $9,902,000 after purchasing an additional 269,851 shares during the last quarter. Finally, Prospera Financial Services Inc grew its stake in Burning Rock Biotech by 26.0% in the fourth quarter. Prospera Financial Services Inc now owns 31,185 shares of the company’s stock valued at $628,000 after purchasing an additional 6,430 shares in the last quarter. 30.03% of the stock is currently owned by institutional investors and hedge funds.

About Burning Rock Biotech

Burning Rock Biotech (NASDAQ: BNR) is a precision oncology company specializing in the development and commercialization of next-generation sequencing (NGS)–based cancer diagnostics. The company’s core business revolves around liquid biopsy tests, which analyze circulating tumor DNA (ctDNA) from blood samples to detect genetic mutations associated with various solid tumors. By enabling noninvasive profiling of tumor genomics, Burning Rock Biotech aims to guide personalized therapy decisions and monitor treatment response in cancer patients.

Founded in 2014 and headquartered in Guangzhou, China, Burning Rock Biotech launched its first clinical services in the mid-2010s and subsequently expanded its laboratory network across major Chinese cities.