Burning Rock Biotech (NASDAQ:BNR) Trading Down 9.8% – Here’s Why

Burning Rock Biotech Limited Sponsored ADR (NASDAQ:BNR) shares dropped 9.8% during trading on Thursday . The company traded as low as $18.50 and last traded at $18.50. Approximately 118,465 shares traded hands during mid-day trading, an increase of 309% from the average daily volume of 28,986 shares. The stock had previously closed at $20.50.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BNR shares. Wall Street Zen raised Burning Rock Biotech from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Burning Rock Biotech in a report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Burning Rock Biotech Stock Down 11.6%

The stock has a fifty day simple moving average of $27.03 and a 200 day simple moving average of $19.19. The firm has a market capitalization of $176.03 million, a P/E ratio of -20.71 and a beta of 1.35.

Burning Rock Biotech (NASDAQ:BNR) last released its quarterly earnings data on Saturday, February 14th. The company reported ($0.21) earnings per share for the quarter. The business had revenue of $18.05 million during the quarter. Burning Rock Biotech had a negative return on equity of 9.98% and a negative net margin of 10.27%.

Institutional Investors Weigh In On Burning Rock Biotech

A number of institutional investors have recently added to or reduced their stakes in BNR. Marshall Wace LLP bought a new stake in shares of Burning Rock Biotech during the fourth quarter valued at approximately $220,000. Crcm LP increased its holdings in 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 acquiring an additional 269,851 shares during the last quarter. Prospera Financial Services Inc lifted 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 worth $628,000 after purchasing an additional 6,430 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. bought a new position in shares of Burning Rock Biotech during the 3rd quarter valued at about $26,000. 30.03% of the stock is owned by hedge funds and other institutional investors.

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.