Burning Rock Biotech (NASDAQ:BNR) Stock Falls 5.8% - What's Next?

Key Points

• Burning Rock Biotech shares fell 5.8% to $15.18 in mid-day trading, while volume was about 79% below the average session level.
• Analyst sentiment remains negative: Wall Street Zen downgraded the stock from “buy” to “hold,” and the single analyst tracked by MarketBeat has a consensus “Sell” rating.
• The company reported a quarterly loss of $0.20 per share—better than the expected $2.29 loss—and revenue of $19.84 million, slightly above estimates. Institutional investors own about 30% of the stock, with Renaissance Technologies recently increasing its stake by 13.8%.

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

Analyst Ratings Changes

BNR has been the topic of several research reports. Wall Street Zen cut shares of Burning Rock Biotech from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. 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 equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of "Sell".

Burning Rock Biotech Stock Down 5.8%

The company has a market capitalization of $159.69 million, a PE ratio of -17.45 and a beta of 1.29. The stock's fifty day moving average price is $12.00 and its two-hundred day moving average price is $12.93.

Burning Rock Biotech (NASDAQ:BNR - Get Free Report) last released its earnings results on Thursday, September 10th. The company reported ($0.20) EPS for the quarter, beating analysts' consensus estimates of ($2.29) by $2.09. The company had revenue of $19.84 million during 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 Investors Weigh In On Burning Rock Biotech

An institutional investor recently raised its stake in Burning Rock Biotech stock. Renaissance Technologies LLC boosted its holdings in Burning Rock Biotech Limited Sponsored ADR (NASDAQ:BNR - Free Report) by 13.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,407 shares of the company's stock after purchasing an additional 4,290 shares during the quarter. Renaissance Technologies LLC owned approximately 0.34% of Burning Rock Biotech worth $571,000 as of its most recent SEC filing. Institutional investors and hedge funds 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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