Short Interest in bioAffinity Technologies, Inc. (NASDAQ:BIAF) Decreases By 40.2%

bioAffinity Technologies, Inc. (NASDAQ:BIAF) saw a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 195,685 shares, a drop of 40.2% from the July 30th total of 327,035 shares. Based on an average trading volume of 361,563 shares, the days-to-cover ratio is presently 0.5 days. Currently, 2.5% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of 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 research note on Monday, July 20th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

bioAffinity Technologies Stock Up 50.2%

NASDAQ:BIAF traded up $2.29 during trading hours on Tuesday, reaching $6.85. The company had a trading volume of 42,810,099 shares, compared to its average volume of 557,054. The company has a quick ratio of 1.41, a current ratio of 1.44 and a debt-to-equity ratio of 0.14. The business’s 50-day simple moving average is $9.20 and its two-hundred day simple moving average is $23.39. The firm has a market cap of $4.04 million, a price-to-earnings ratio of -0.06 and a beta of -1.04. bioAffinity Technologies has a twelve month low of $4.56 and a twelve month high of $202.50.

bioAffinity Technologies (NASDAQ:BIAF) last posted its quarterly earnings results on Friday, August 7th. The company reported ($9.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($31.50) by $21.90. bioAffinity Technologies had a negative return on equity of 220.52% and a negative net margin of 257.30%.The business had revenue of $1.51 million for the quarter, compared to the consensus estimate of $1.70 million.

Hedge Funds Weigh In On bioAffinity Technologies

Large investors have recently added to or reduced their stakes in the business. Scientech Research LLC acquired a new position in bioAffinity Technologies during the 3rd quarter valued at about $49,000. Geode Capital Management LLC purchased a new stake in shares of bioAffinity Technologies in the fourth quarter worth approximately $36,000. Finally, J. Safra Sarasin Holding AG bought a new position in shares of bioAffinity Technologies in the first quarter valued at approximately $164,000. Institutional investors 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.