bearish
Burning Rock Biotech (BNR US): Attractive Growth Story Outshined by Surging COVID Cases in China
383 Views31 Mar 2022 17:44
SUMMARY
- Burning Rock Biotech (BNR US) shares plunged 35% since I published bearish insight on the company in November. Weak Q3 results, slower recovery, and the U.S.-China conflict remained major overhangs.
- However, the shares are now trading at two-week high, as the company received approval for its second NGS kit in China and reported slightly better-than-expected Q4 results.
- Investors should continue to avoid Burning Rock shares for near-term and wait for COVID cases to subside in China and resolution of the U.S.-China conflict.
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Tina Banerjee
Global Healthcare Analyst
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