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

Burning Rock Biotech (NASDAQ:BNR) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

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

Burning Rock Biotech Stock Performance

Shares of Burning Rock Biotech stock opened at $15.75 on Friday. The firm’s fifty day simple moving average is $13.66 and its 200-day simple moving average is $8.77. Burning Rock Biotech has a 12 month low of $2.18 and a 12 month high of $23.59. The stock has a market capitalization of $169.49 million, a price-to-earnings ratio of -9.49 and a beta of 1.20. 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

Several large investors have recently added to or reduced their stakes in the company. Crcm LP boosted 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 purchasing an additional 26,809 shares in the last quarter. Prospera Financial Services Inc acquired a new stake in shares of Burning Rock Biotech in the 3rd quarter valued at approximately $214,000. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in shares of Burning Rock Biotech in the third quarter valued at approximately $26,000. 30.03% of the stock is owned by hedge funds and other 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.