Burning Rock Biotech (NASDAQ:BNR) Stock Price Down 5.8% – What’s Next?

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on BNR. Weiss Ratings raised shares of Burning Rock Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 10th. Wall Street Zen lowered shares of 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, According to MarketBeat, Burning Rock Biotech currently has an average rating of “Sell”.

Burning Rock Biotech Stock Performance

The company has a market cap of $162.92 million, a P/E ratio of -17.80 and a beta of 1.29. The firm has a 50 day moving average price of $12.13 and a two-hundred day moving average price of $12.90.

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

Institutional Inflows and Outflows

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

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.