Burning Rock Biotech Limited (NASDAQ:BNR – Get Free Report) was the recipient of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 40,300 shares, a drop of 26.3% from the May 15th total of 54,700 shares. Based on an average daily trading volume, of 5,400 shares, the short-interest ratio is currently 7.5 days. Approximately 0.5% of the shares of the stock are short sold.
Institutional Investors Weigh In On Burning Rock Biotech
A hedge fund recently bought a new stake in Burning Rock Biotech stock. Lansdowne Partners UK LLP bought a new position in Burning Rock Biotech Limited (NASDAQ:BNR – Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 122,593 shares of the company’s stock, valued at approximately $119,000. Lansdowne Partners UK LLP owned approximately 0.12% of Burning Rock Biotech at the end of the most recent reporting period. Hedge funds and other institutional investors own 30.03% of the company’s stock.
Burning Rock Biotech Stock Performance
Shares of NASDAQ BNR remained flat at $7.71 during mid-day trading on Friday. 10,314 shares of the company were exchanged, compared to its average volume of 7,440. Burning Rock Biotech has a fifty-two week low of $5.72 and a fifty-two week high of $26.10. The firm has a market capitalization of $78.95 million, a price-to-earnings ratio of -1.19 and a beta of 0.18. The company has a fifty day moving average of $7.81 and a two-hundred day moving average of $8.10.
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.
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