Burning Rock Biotech (NASDAQ:BNR) Trading 7.2% Higher - What's Next?

Key Points

• Burning Rock Biotech shares rose 7.2% to $12.52 in midday trading, with volume slightly above the average session level.
• The company’s latest quarterly results exceeded expectations, reporting an adjusted loss of $0.20 per share versus the $2.29 consensus estimate and revenue of $19.84 million, above forecasts of $19.21 million.
• Despite recent insider and institutional buying, analyst sentiment remains negative: the stock has a consensus “Sell” rating, alongside negative profitability metrics and a market capitalization of approximately $131.7 million.

Burning Rock Biotech Limited Sponsored ADR (NASDAQ:BNR - Get Free Report) shares shot up 7.2% on Wednesday . The company traded as high as $13.38 and last traded at $12.52. 50,520 shares changed hands during mid-day trading, an increase of 4% from the average session volume of 48,397 shares. The stock had previously closed at $11.68.

Analyst Ratings Changes

Several research firms have recently weighed in on BNR. Weiss Ratings upgraded shares of Burning Rock Biotech from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, September 10th. Wall Street Zen lowered shares of Burning Rock Biotech from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of "Sell".

Burning Rock Biotech Price Performance

The company has a market capitalization of $131.71 million, a price-to-earnings ratio of -14.39 and a beta of 1.38. The firm has a 50-day moving average price of $10.04 and a two-hundred day moving average price of $13.48.

Burning Rock Biotech (NASDAQ:BNR - Get Free Report) last announced its earnings results 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. Burning Rock Biotech had a negative return on equity of 12.98% and a negative net margin of 13.60%.The business had revenue of $19.84 million for the quarter, compared to analyst estimates of $19.21 million.

Insider Activity

In other Burning Rock Biotech news, Director Yusheng Han acquired 24,900 shares of the stock in a transaction dated Friday, June 26th. The shares were bought at an average cost of $8.00 per share, for a total transaction of $199,200.00. Following the completion of the acquisition, the director directly owned 18,404,086 shares of the company's stock, valued at approximately $147,232,688. This trade represents a 0.14% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased 385,540 shares of company stock valued at $3,023,768 in the last 90 days. 30.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BNR. Prospera Financial Services Inc lifted its position in Burning Rock Biotech by 26.0% during the 4th quarter. Prospera Financial Services Inc now owns 31,185 shares of the company's stock worth $628,000 after buying an additional 6,430 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Burning Rock Biotech by 13.8% in the 1st quarter. Renaissance Technologies LLC now owns 35,407 shares of the company's stock valued at $571,000 after acquiring an additional 4,290 shares in the last quarter. Finally, Crcm LP grew its holdings in shares of 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 in the last quarter. Institutional investors own 30.03% of the company's stock.

Burning Rock Biotech Company Profile

Burning Rock Biotech Limited is a biotechnology company focused on precision oncology. The company develops and commercializes next-generation sequencing (NGS)-based tests designed to support cancer screening, diagnosis, treatment selection and disease monitoring.

Its products and services include tumor profiling and liquid biopsy tests that analyze genetic changes associated with cancer. Burning Rock also provides testing services to hospitals, physicians and biopharmaceutical companies, including services intended to help identify patients for clinical trials and evaluate targeted cancer therapies.

Founded in 2014, Burning Rock is headquartered in Guangzhou, China, and primarily serves the Chinese healthcare and pharmaceutical markets, with additional activities connected to international clinical development.

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