Burning Rock Biotech (NASDAQ:BNR) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Burning Rock Biotech to “hold”, while Weiss Ratings also improved its rating from “sell (e+)” to “sell (d-).” MarketBeat data still shows a consensus “Sell” rating.
• BNR shares were trading down 10.8% at $11.82, with a market capitalization of approximately $124.35 million and a 52-week range of $6.79 to $41.72.
• The company reported quarterly earnings of $(0.20) per share, beating estimates by $2.09, while revenue of $19.84 million exceeded expectations of $19.21 million. Renaissance Technologies increased its stake by 13.8%, and institutional investors collectively own 30.03% of the stock.

Burning Rock Biotech (NASDAQ:BNR - Get Free Report) was upgraded by research analysts at Wall Street Zen to a "hold" rating in a report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised shares of Burning Rock Biotech from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, September 10th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, Burning Rock Biotech presently has a consensus rating of "Sell".

Burning Rock Biotech Trading Down 10.8%

Shares of BNR stock opened at $11.82 on Friday. Burning Rock Biotech has a 1 year low of $6.79 and a 1 year high of $41.72. The firm has a market capitalization of $124.35 million, a P/E ratio of -13.59 and a beta of 1.29. The firm's fifty day moving average price is $13.12 and its two-hundred day moving average price is $12.66.

Burning Rock Biotech (NASDAQ:BNR - Get Free Report) last posted its quarterly earnings results on Thursday, September 10th. The company reported ($0.20) earnings per share 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

A hedge fund recently raised its position in Burning Rock Biotech stock. Renaissance Technologies LLC grew its stake in Burning Rock Biotech Limited Sponsored ADR (NASDAQ:BNR - Free Report) by 13.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 35,407 shares of the company's stock after acquiring an additional 4,290 shares during the period. Renaissance Technologies LLC owned about 0.34% of Burning Rock Biotech worth $571,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 30.03% of the company's stock.

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.

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