Short Interest in Burning Rock Biotech Limited (NASDAQ:BNR) Decreases By 30.2%

Burning Rock Biotech Limited (NASDAQ:BNR) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 84,000 shares, a drop of 30.2% from the October 15th total of 120,300 shares. Based on an average daily trading volume, of 30,600 shares, the short-interest ratio is presently 2.7 days. Approximately 1.0% of the shares of the stock are sold short.

Burning Rock Biotech Stock Up 1.4 %

NASDAQ:BNR traded up $0.05 during trading hours on Friday, reaching $3.75. 10,434 shares of the company’s stock were exchanged, compared to its average volume of 13,661. The company has a market capitalization of $38.40 million, a P/E ratio of -0.71 and a beta of 0.14. Burning Rock Biotech has a 12 month low of $2.62 and a 12 month high of $9.99. The business’s 50-day simple moving average is $3.35 and its two-hundred day simple moving average is $5.67.

Burning Rock Biotech (NASDAQ:BNR) last issued its earnings results on Thursday, August 22nd. The company reported ($0.14) earnings per share for the quarter. The business had revenue of $18.65 million for the quarter. Burning Rock Biotech had a negative return on equity of 74.96% and a negative net margin of 111.25%.

Hedge Funds Weigh In On Burning Rock Biotech

An institutional investor recently raised its position in Burning Rock Biotech stock. Kynam Capital Management LP increased its position in Burning Rock Biotech Limited (NASDAQ:BNR) by 10.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 9,640,914 shares of the company’s stock after purchasing an additional 946,488 shares during the period. Burning Rock Biotech comprises about 0.7% of Kynam Capital Management LP’s investment portfolio, making the stock its 18th biggest holding. Kynam Capital Management LP owned 9.41% of Burning Rock Biotech worth $7,020,000 at the end of the most recent reporting period. 30.03% of the stock is owned by institutional investors.

Burning Rock Biotech Company Profile

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.