Burning Rock Biotech (NASDAQ:BNR) Trading Up 7.2% – Should You Buy?

Burning Rock Biotech Limited Sponsored ADR (NASDAQ:BNR) traded up 7.2% during trading on Wednesday . The company traded as high as $13.38 and last traded at $12.52. 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.

Analysts Set New Price Targets

BNR has been the subject of several research analyst reports. Weiss Ratings upgraded Burning Rock Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 10th. Wall Street Zen cut Burning Rock Biotech from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Burning Rock Biotech Price Performance

The business has a 50 day moving average of $10.08 and a 200 day moving average of $13.39. The firm has a market capitalization of $150.66 million, a price-to-earnings ratio of -16.46 and a beta of 1.38.

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

Insiders Place Their Bets

In other news, Director Yusheng Han acquired 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $2,000,000.00. Following the completion of the acquisition, the director owned 18,379,186 shares in the company, valued at $147,033,488. This trade represents a 1.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have purchased 385,540 shares of company stock worth $3,023,768. 30.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Burning Rock Biotech

Several hedge funds have recently bought and sold shares of BNR. Crcm LP increased its position in shares of Burning Rock Biotech by 121.8% in the 4th quarter. Crcm LP now owns 491,426 shares of the company’s stock valued at $9,902,000 after buying an additional 269,851 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Burning Rock Biotech by 13.8% during the first quarter. Renaissance Technologies LLC now owns 35,407 shares of the company’s stock worth $571,000 after acquiring an additional 4,290 shares in the last quarter. Finally, Prospera Financial Services Inc lifted its holdings in Burning Rock Biotech by 26.0% during the fourth quarter. Prospera Financial Services Inc now owns 31,185 shares of the company’s stock worth $628,000 after acquiring an additional 6,430 shares in the last quarter. 30.03% of the stock is currently owned by institutional investors and hedge funds.

Burning Rock Biotech Company Profile

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.