Burning Rock Biotech (NASDAQ:BNR) Stock Price Down 9.8% – Here’s What Happened

Shares of Burning Rock Biotech Limited Sponsored ADR (NASDAQ:BNR) were down 9.8% during mid-day trading on Thursday . The company traded as low as $18.50 and last traded at $18.50. Approximately 118,465 shares changed hands during trading, an increase of 309% from the average daily volume of 28,986 shares. The stock had previously closed at $20.50.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BNR. Wall Street Zen raised Burning Rock Biotech from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Burning Rock Biotech in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Burning Rock Biotech Trading Down 9.8%

The company has a market cap of $199.06 million, a PE ratio of -23.42 and a beta of 1.35. The firm’s 50-day simple moving average is $27.35 and its two-hundred day simple moving average is $19.13.

Burning Rock Biotech (NASDAQ:BNR) last posted its quarterly earnings results on Friday, March 13th. The company reported ($0.21) earnings per share (EPS) for the quarter. The company had revenue of $18.05 million during the quarter. Burning Rock Biotech had a negative return on equity of 9.98% and a negative net margin of 10.27%.

Institutional Trading of Burning Rock Biotech

Large investors have recently made changes to their positions in the business. Prospera Financial Services Inc acquired a new stake in shares of Burning Rock Biotech in the third quarter worth $214,000. China Universal Asset Management Co. Ltd. acquired a new position in Burning Rock Biotech during the third quarter valued at $26,000. Crcm LP boosted its holdings in Burning Rock Biotech by 13.8% in the third quarter. Crcm LP now owns 221,575 shares of the company’s stock valued at $1,917,000 after purchasing an additional 26,809 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in Burning Rock Biotech in the fourth quarter valued at $220,000. 30.03% of the stock is owned by hedge funds and other 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.