ARK Genomic revolution piles into Burning Rock Biotech shares
22/11/2021 11:53
** ARK Invest, managed by influential investor Cathie Wood,
bought more than half a million shares of Burning Rock Biotech
BNR.O on Friday
** Assuming ARK's Genomic Revolution ETF ARKG.Z bought the
563,000 shares at closing price of $17.14, the trade was worth
~$9.65 mln
** BNR jumped ~11% on Tuesday after co reported 2% rise in
revenue to RMB 126.6 mln and has ballooned a quarter in value up
to Friday's close urn:newsml:reuters.com:*:nGNX7MNWqh
** China-based cancer diagnostic test maker on Wednesday
teamed up with Germany's Merck KGaA for developing liquid-biopsy
based diagnostics urn:newsml:reuters.com:*:nGNX1ZDTjn
** ARKG first made its BNR purchase after co's results on
Tuesday and consistently bought for the next three days, taking
its total holding to 642,619
** BNR rallied 17% last week in its best weekly performance
since May and yet it is down 25% on the year
(Reporting by Medha Singh)
((medha.singh@thomsonreuters.com))