Short Interest in Burning Rock Biotech Limited (NASDAQ:BNR) Increases By 183.1%

Burning Rock Biotech Limited (NASDAQ:BNR) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 120,300 shares, an increase of 183.1% from the September 30th total of 42,500 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily volume of 27,100 shares, the short-interest ratio is presently 4.4 days.

Burning Rock Biotech Stock Performance

NASDAQ:BNR opened at $2.82 on Monday. The stock has a market capitalization of $28.89 million, a PE ratio of -0.44 and a beta of 0.13. Burning Rock Biotech has a fifty-two week low of $2.62 and a fifty-two week high of $11.10. The company has a fifty day moving average of $4.05 and a two-hundred day moving average of $6.12.

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 firm had revenue of $18.65 million during the quarter.

Institutional Investors Weigh In On Burning Rock Biotech

An institutional investor recently raised its position in Burning Rock Biotech stock. Kynam Capital Management LP increased its holdings in Burning Rock Biotech Limited (NASDAQ:BNR) by 10.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 9,640,914 shares of the company’s stock after acquiring an additional 946,488 shares during the period. Burning Rock Biotech makes up about 0.7% of Kynam Capital Management LP’s holdings, making the stock its 18th largest holding. Kynam Capital Management LP owned approximately 9.41% of Burning Rock Biotech worth $7,020,000 as of its most recent SEC filing. 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.