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

Burning Rock Biotech Limited (NASDAQ:BNR) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 84,000 shares, a decrease of 30.2% from the October 15th total of 120,300 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily volume of 30,600 shares, the short-interest ratio is presently 2.7 days.

Institutional Trading of Burning Rock Biotech

An institutional investor recently raised its position in Burning Rock Biotech stock. Kynam Capital Management LP increased its position in shares of Burning Rock Biotech Limited (NASDAQ:BNR) by 10.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,640,914 shares of the company’s stock after buying an additional 946,488 shares during the quarter. Burning Rock Biotech comprises 0.7% of Kynam Capital Management LP’s investment portfolio, making the stock its 18th biggest holding. Kynam Capital Management LP owned about 9.41% of Burning Rock Biotech worth $7,020,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 30.03% of the company’s stock.

Burning Rock Biotech Trading Up 1.4 %

NASDAQ:BNR traded up $0.05 during trading hours on Friday, hitting $3.75. The company’s stock had a trading volume of 10,486 shares, compared to its average volume of 13,661. The stock has a market capitalization of $38.40 million, a P/E ratio of -0.78 and a beta of 0.14. The stock has a fifty day moving average of $3.34 and a 200-day moving average of $5.64. Burning Rock Biotech has a 52-week low of $2.62 and a 52-week high of $9.99.

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%.

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.