Short Interest in bioAffinity Technologies, Inc. (NASDAQ:BIAF) Drops By 37.4%

bioAffinity Technologies, Inc. (NASDAQ:BIAF) was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 327,035 shares, a drop of 37.4% from the July 15th total of 522,561 shares. Based on an average daily trading volume, of 217,393 shares, the short-interest ratio is currently 1.5 days. Approximately 7.1% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BIAF shares. Wall Street Zen raised bioAffinity Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of bioAffinity Technologies in a report on Monday, July 20th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

bioAffinity Technologies Stock Down 13.6%

BIAF opened at $0.41 on Thursday. The company has a market capitalization of $3.31 million, a P/E ratio of -0.06 and a beta of -1.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.44 and a quick ratio of 1.41. The firm’s fifty day moving average price is $0.73 and its two-hundred day moving average price is $1.59. bioAffinity Technologies has a fifty-two week low of $0.33 and a fifty-two week high of $13.50.

bioAffinity Technologies (NASDAQ:BIAF) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.10) by $1.46. The company had revenue of $1.51 million during the quarter, compared to analysts’ expectations of $1.70 million. bioAffinity Technologies had a negative net margin of 257.30% and a negative return on equity of 220.52%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC bought a new position in bioAffinity Technologies during the fourth quarter worth about $36,000. Scientech Research LLC bought a new stake in shares of bioAffinity Technologies in the 3rd quarter valued at approximately $49,000. Finally, J. Safra Sarasin Holding AG bought a new stake in shares of bioAffinity Technologies in the 1st quarter valued at approximately $164,000. Institutional investors and hedge funds own 1.64% of the company’s stock.

bioAffinity Technologies Company Profile

bioAffinity Technologies, Inc (NASDAQ: BIAF) is a U.S.-based biotechnology company specializing in the development and commercialization of advanced in vitro diagnostic platforms for oncology. Leveraging proprietary bioaffinity and nanotechnology approaches, bioAffinity’s platforms are designed to isolate and analyze cancer-specific biomarkers from blood, tissue, and other biological samples with high sensitivity and specificity. The company’s core technologies aim to enable earlier detection of solid tumors, improved disease monitoring, and more personalized treatment strategies.

The company’s primary product pipeline includes assays targeting breast cancer and other solid tumor indications.