Burning Rock Biotech (NASDAQ:BNR) Stock Falls 5.8% – Here’s Why

Burning Rock Biotech Limited Sponsored ADR (NASDAQ:BNR) shares fell 5.8% during trading on Wednesday. The stock traded as low as $15.18 and last traded at $15.18. Approximately 10,670 shares changed hands during trading, a decline of 79% from the average daily volume of 50,995 shares. The stock had previously closed at $16.11.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BNR. Wall Street Zen downgraded 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 report on Thursday, September 10th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Burning Rock Biotech Price Performance

The firm has a market cap of $159.69 million, a P/E ratio of -17.45 and a beta of 1.29. The company’s 50-day simple moving average is $12.00 and its 200 day simple moving average is $12.93.

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

Institutional Investors Weigh In On Burning Rock Biotech

An institutional investor recently raised its position in Burning Rock Biotech stock. Crcm LP lifted its stake in Burning Rock Biotech Limited Sponsored ADR (NASDAQ:BNR) by 121.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 491,426 shares of the company’s stock after purchasing an additional 269,851 shares during the quarter. Burning Rock Biotech comprises 3.3% of Crcm LP’s portfolio, making the stock its 7th biggest holding. Crcm LP owned about 4.57% of Burning Rock Biotech worth $9,902,000 as of its most recent filing with the SEC. 30.03% of the stock is owned by hedge funds and other institutional investors.

Burning Rock Biotech Company Profile

Burning Rock Biotech Limited is a China-based biotechnology company focused on precision oncology. The company develops and commercializes cancer testing products based primarily on next-generation sequencing and liquid biopsy technologies, which analyze tumor-related genetic material found in blood and other biological samples.

Its activities span the cancer-care process, including early cancer detection, diagnosis, treatment selection and disease monitoring. Burning Rock provides testing solutions intended to help healthcare professionals identify cancer-associated mutations, assess patients’ potential responses to targeted therapies and monitor treatment outcomes or disease recurrence.