Burning Rock Biotech (NASDAQ:BNR) Issues Quarterly Earnings Results, Beats Estimates By $2.09 EPS

Burning Rock Biotech (NASDAQ:BNR) announced its earnings results on Thursday. The company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($2.29) by $2.09, Zacks reports. The business had revenue of $19.84 million during the quarter, compared to analysts’ expectations of $19.21 million. Burning Rock Biotech had a negative net margin of 13.60% and a negative return on equity of 12.86%.

Burning Rock Biotech Trading Up 5.7%

Shares of NASDAQ:BNR traded up $0.66 on Friday, hitting $12.28. The company had a trading volume of 50,948 shares, compared to its average volume of 35,071. The stock has a 50 day moving average price of $9.98 and a 200 day moving average price of $13.86. Burning Rock Biotech has a 1-year low of $6.79 and a 1-year high of $41.72. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.05 and a quick ratio of 2.81.

Wall Street Analysts Forecast Growth

BNR has been the topic of a number of recent research reports. Weiss Ratings raised Burning Rock Biotech from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday. Wall Street Zen cut Burning Rock Biotech from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Insider Activity

In related news, Director Yusheng Han bought 24,900 shares of Burning Rock Biotech stock in a transaction that occurred on Friday, June 26th. The stock was acquired at an average price of $8.00 per share, with a total value of $199,200.00. Following the acquisition, the director owned 18,404,086 shares of the company’s stock, valued at approximately $147,232,688. This represents a 0.14% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have bought 496,650 shares of company stock worth $4,023,758. Company insiders own 30.30% of the company’s stock.

Institutional Investors Weigh In On Burning Rock Biotech

Hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP acquired a new position in shares of Burning Rock Biotech in the fourth quarter valued at approximately $220,000. Renaissance Technologies LLC increased its stake in shares of Burning Rock Biotech by 13.8% during the first quarter. Renaissance Technologies LLC now owns 35,407 shares of the company’s stock worth $571,000 after purchasing an additional 4,290 shares during the period. Prospera Financial Services Inc lifted its holdings 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 purchasing an additional 6,430 shares during the last quarter. Finally, Crcm LP lifted its holdings in 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 purchasing an additional 269,851 shares during the last quarter. 30.03% of the stock is currently owned by institutional investors and hedge funds.

Burning Rock Biotech Company Profile

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.