Burning Rock Biotech (NASDAQ:BNR) Shares Up 1% – Still a Buy?

Burning Rock Biotech Limited Sponsored ADR (NASDAQ:BNR)’s stock price shot up 1% during mid-day trading on Wednesday . The company traded as high as $16.70 and last traded at $16.8650. 2,207 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 20,119 shares. The stock had previously closed at $16.70.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Burning Rock Biotech in a report on Monday, April 20th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Burning Rock Biotech Trading Down 11.1%

The business’s fifty day simple moving average is $18.08 and its two-hundred day simple moving average is $21.48. The stock has a market capitalization of $152.65 million, a P/E ratio of -18.37 and a beta of 1.49.

Burning Rock Biotech (NASDAQ:BNR) last released its quarterly earnings data on Saturday, February 14th. The company reported ($0.21) EPS for the quarter. The business had revenue of $18.05 million for the quarter. Burning Rock Biotech had a negative return on equity of 9.98% and a negative net margin of 10.27%.

Insider Activity at Burning Rock Biotech

In other Burning Rock Biotech news, Director Yusheng Han acquired 314,870 shares of Burning Rock Biotech stock in a transaction dated Tuesday, March 31st. The stock was bought at an average cost of $17.36 per share, with a total value of $5,466,143.20. Following the acquisition, the director owned 17,672,676 shares of the company’s stock, valued at approximately $306,797,655.36. The trade was a 1.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 30.30% of the company’s stock.

Hedge Funds Weigh In On Burning Rock Biotech

A number of hedge funds and other institutional investors have recently made changes to their positions in BNR. Crcm LP lifted its holdings in shares of Burning Rock Biotech by 121.8% during the 4th quarter. Crcm LP now owns 491,426 shares of the company’s stock worth $9,902,000 after acquiring an additional 269,851 shares during the period. Prospera Financial Services Inc bought a new position in shares of Burning Rock Biotech during the 3rd quarter worth about $214,000. Marshall Wace LLP bought a new position in shares of Burning Rock Biotech during the 4th quarter worth about $220,000. Renaissance Technologies LLC lifted its holdings in shares of Burning Rock Biotech by 13.8% during the 1st quarter. Renaissance Technologies LLC now owns 35,407 shares of the company’s stock worth $571,000 after acquiring an additional 4,290 shares during the period. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in shares of Burning Rock Biotech during the 3rd quarter worth about $26,000. 30.03% of the stock is owned by institutional investors.

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.