Burning Rock Biotech (NASDAQ:BNR) Raised to “Hold” at Wall Street Zen

Burning Rock Biotech (NASDAQ:BNR) was upgraded by analysts at Wall Street Zen to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised Burning Rock Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 10th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Burning Rock Biotech currently has an average rating of “Sell”.

Burning Rock Biotech Stock Down 10.8%

Burning Rock Biotech stock opened at $11.82 on Friday. The firm has a market capitalization of $124.35 million, a P/E ratio of -13.59 and a beta of 1.29. Burning Rock Biotech has a 52-week low of $6.79 and a 52-week high of $41.72. The firm has a fifty day moving average of $13.12 and a 200-day moving average of $12.66.

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

Hedge Funds Weigh In On Burning Rock Biotech

A hedge fund recently raised its stake in Burning Rock Biotech stock. Renaissance Technologies LLC grew its position in shares of Burning Rock Biotech Limited Sponsored ADR (NASDAQ:BNR) by 13.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,407 shares of the company’s stock after acquiring an additional 4,290 shares during the quarter. Renaissance Technologies LLC owned 0.34% of Burning Rock Biotech worth $571,000 at the end of the most recent reporting period. 30.03% of the stock is owned by institutional investors and hedge funds.

About Burning Rock Biotech

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.