Burning Rock Biotech (NASDAQ:BNR) Cut to Hold at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen lowered shares of Burning Rock Biotech (NASDAQ:BNR – Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Burning Rock Biotech in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Read Our Latest Stock Report on BNR

Burning Rock Biotech Price Performance

BNR opened at $15.76 on Friday. Burning Rock Biotech has a 1 year low of $2.18 and a 1 year high of $23.59. The company has a market capitalization of $169.59 million, a price-to-earnings ratio of -9.49 and a beta of 1.20. The firm’s fifty day moving average price is $13.79 and its two-hundred day moving average price is $8.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.14 and a quick ratio of 2.91.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Crcm LP increased its holdings in Burning Rock Biotech by 13.8% in the 3rd quarter. Crcm LP now owns 221,575 shares of the company’s stock valued at $1,917,000 after acquiring an additional 26,809 shares during the last quarter. Prospera Financial Services Inc purchased a new position in shares of Burning Rock Biotech during the third quarter valued at about $214,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in shares of Burning Rock Biotech in the third quarter worth about $26,000. Hedge funds and other institutional investors own 30.03% of the company’s stock.

About Burning Rock Biotech

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Burning Rock Biotech Limited primarily develops and commercializes cancer therapy selection tests in the People's Republic of China. It operates in three segments: Central Laboratory Business, In-Hospital Business, and Pharma Research and Development Services. The company primarily offers next-generation sequencing-based tissue and liquid biopsy cancer therapy selection and prognosis prediction tests for various range of cancer types, including lung cancer, gastrointestinal cancer, prostate cancer, breast cancer, lymphomas, thyroid cancer, colorectal cancer, ovarian cancer, pancreatic cancer, and bladder cancer using tissue and liquid biopsy samples.

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