Burning Rock Biotech Limited (NASDAQ:BNR) Short Interest Update

Burning Rock Biotech Limited (NASDAQ:BNR) was the recipient of a large drop in short interest during the month of 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. Currently, 1.0% of the company’s shares are short sold. Based on an average daily volume of 30,600 shares, the short-interest ratio is currently 2.7 days.

Burning Rock Biotech Stock Performance

Shares of NASDAQ BNR traded up $0.05 during trading on Friday, reaching $3.75. The stock had a trading volume of 10,486 shares, compared to its average volume of 13,661. The business’s 50-day moving average price is $3.34 and its 200-day moving average price is $5.64. Burning Rock Biotech has a fifty-two week low of $2.62 and a fifty-two week high of $9.99. The company has a market cap of $38.40 million, a P/E ratio of -0.78 and a beta of 0.14.

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

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 stake in shares of Burning Rock Biotech Limited (NASDAQ:BNR) by 10.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,640,914 shares of the company’s stock after purchasing an additional 946,488 shares during the quarter. Burning Rock Biotech accounts for 0.7% of Kynam Capital Management LP’s holdings, making the stock its 18th largest holding. Kynam Capital Management LP owned about 9.41% of Burning Rock Biotech worth $7,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 30.03% of the company’s stock.

About Burning Rock Biotech

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.