Burning Rock Biotech (NASDAQ:BNR) Shares Down 3.7% – Here’s What Happened

Shares of Burning Rock Biotech Limited Sponsored ADR (NASDAQ:BNR) dropped 3.7% during mid-day trading on Thursday . The stock traded as low as $9.29 and last traded at $9.5580. 2,971 shares traded hands during trading, a decline of 54% from the average session volume of 6,448 shares. The stock had previously closed at $9.93.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BNR. Weiss Ratings cut shares of Burning Rock Biotech from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, July 31st. Wall Street Zen cut shares of Burning Rock Biotech from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Burning Rock Biotech Stock Up 1.2%

The company has a market cap of $98.92 million, a P/E ratio of -11.47 and a beta of 1.34. The company has a quick ratio of 2.81, a current ratio of 3.05 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average price of $9.15 and a 200 day moving average price of $16.90.

Burning Rock Biotech (NASDAQ:BNR) last issued its quarterly earnings results on Tuesday, June 9th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.29) by $2.09. The business had revenue of $15.66 million for the quarter, compared to the consensus estimate of $19.21 million. Burning Rock Biotech had a negative net margin of 11.57% and a negative return on equity of 10.98%.

Insider Activity

In related news, Director Yusheng Han purchased 250,000 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were acquired at an average cost of $8.00 per share, with a total value of $2,000,000.00. Following the completion of the purchase, the director directly owned 18,379,186 shares of the company’s stock, valued at $147,033,488. This trade represents a 1.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 731,410 shares of company stock worth $6,182,660 in the last quarter. 30.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in 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 buying an additional 4,290 shares during the last quarter. Prospera Financial Services Inc raised its position in shares of Burning Rock Biotech by 26.0% during the fourth quarter. Prospera Financial Services Inc now owns 31,185 shares of the company’s stock worth $628,000 after acquiring an additional 6,430 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Burning Rock Biotech during the fourth quarter worth $220,000. Finally, Crcm LP lifted its stake in shares of Burning Rock Biotech by 121.8% during the fourth 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 during the period. Institutional investors and hedge funds own 30.03% of the company’s stock.

About Burning Rock Biotech

Burning Rock Biotech (NASDAQ: BNR) is a precision oncology company specializing in the development and commercialization of next-generation sequencing (NGS)–based cancer diagnostics. The company’s core business revolves around liquid biopsy tests, which analyze circulating tumor DNA (ctDNA) from blood samples to detect genetic mutations associated with various solid tumors. By enabling noninvasive profiling of tumor genomics, Burning Rock Biotech aims to guide personalized therapy decisions and monitor treatment response in cancer patients.

Founded in 2014 and headquartered in Guangzhou, China, Burning Rock Biotech launched its first clinical services in the mid-2010s and subsequently expanded its laboratory network across major Chinese cities.