Burning Rock Biotech (NASDAQ:BNR) Announces Quarterly Earnings Results, Misses Estimates By $2.27 EPS

Burning Rock Biotech (NASDAQ:BNRGet Rating) released its quarterly earnings data on Monday. The company reported ($2.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($2.27), MarketWatch Earnings reports. Burning Rock Biotech had a negative return on equity of 37.96% and a negative net margin of 156.90%. During the same period last year, the firm earned ($0.25) EPS.

NASDAQ BNR opened at $2.40 on Wednesday. The company has a fifty day moving average of $6.14 and a two-hundred day moving average of $8.70. The company has a market capitalization of $252.26 million, a PE ratio of -2.03 and a beta of -0.33. Burning Rock Biotech has a 1 year low of $2.31 and a 1 year high of $30.50.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Burning Rock Biotech by 10.8% during the first quarter. BlackRock Inc. now owns 1,436,749 shares of the company’s stock worth $13,348,000 after buying an additional 140,533 shares during the period. Vanguard Group Inc. grew its position in shares of Burning Rock Biotech by 2.6% during the first quarter. Vanguard Group Inc. now owns 1,053,368 shares of the company’s stock worth $9,786,000 after acquiring an additional 26,289 shares during the last quarter. Morgan Stanley raised its position in Burning Rock Biotech by 197.9% in the 3rd quarter. Morgan Stanley now owns 467,641 shares of the company’s stock valued at $8,361,000 after purchasing an additional 310,654 shares during the last quarter. Millennium Management LLC boosted its stake in Burning Rock Biotech by 317.6% during the 4th quarter. Millennium Management LLC now owns 409,315 shares of the company’s stock worth $3,901,000 after purchasing an additional 311,293 shares during the period. Finally, State Street Corp grew its position in Burning Rock Biotech by 12.9% during the 1st quarter. State Street Corp now owns 196,590 shares of the company’s stock worth $1,826,000 after purchasing an additional 22,457 shares during the last quarter. 45.05% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research raised Burning Rock Biotech from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 24th.

About Burning Rock Biotech (Get Rating)

Burning Rock Biotech Limited primarily develops and provides 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 cancer therapy selection and prognosis prediction tests applicable to a 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.

See Also

Earnings History for Burning Rock Biotech (NASDAQ:BNR)

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