bioAffinity Technologies, Inc. (NASDAQ:BIAF) Stock Short Interest Falls 42.3%

bioAffinity Technologies, Inc. (NASDAQ:BIAF) saw a significant drop in short interest in October. As of October 15th, there was short interest totaling 66,654 shares, a drop of 42.3% from the September 30th total of 115,467 shares. Based on an average daily trading volume, of 3,440,106 shares, the days-to-cover ratio is currently 0.0 days. Approximately 11.4% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BIAF. Wall Street Zen raised bioAffinity Technologies from a “sell” rating to a “hold” rating in a report on Monday, August 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of bioAffinity Technologies in a research note on Friday, October 16th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has an average rating of “Sell”.

bioAffinity Technologies Stock Down 4.0%

NASDAQ:BIAF traded down $0.12 during trading hours on Friday, hitting $2.91. 46,402 shares of the company traded hands, compared to its average volume of 1,964,175. The company has a market cap of $1.75 million, a PE ratio of -0.03 and a beta of -1.25. bioAffinity Technologies has a one year low of $2.66 and a one year high of $80.70. 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 firm’s 50-day simple moving average is $6.15 and its 200-day simple moving average is $19.11.

bioAffinity Technologies (NASDAQ:BIAF) last issued its earnings results on Friday, August 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($31.50) by $30.86. The business had revenue of $1.51 million for 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 Investors Weigh In On bioAffinity Technologies

A hedge fund recently bought a new position in bioAffinity Technologies stock. J. Safra Sarasin Holding AG acquired a new position in bioAffinity Technologies, Inc. (NASDAQ:BIAF) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 42,600 shares of the company’s stock, valued at approximately $164,000. J. Safra Sarasin Holding AG owned about 0.95% of bioAffinity Technologies as of its most recent SEC filing. 1.64% of the stock is owned by institutional investors and hedge funds.

bioAffinity Technologies Company Profile

bioAffinity Technologies, Inc is a biotechnology company focused on developing diagnostic and therapeutic products for cancer and other serious diseases. The company’s platform uses porphyrin-based compounds designed to selectively identify or target abnormal cells, with the goal of supporting earlier disease detection and more precise treatment.

Its lead diagnostic product, CyPath Lung, is an investigational, noninvasive urine test intended to aid in the detection of lung cancer. The test uses an inhaled porphyrin compound that can bind to cancer cells in the lungs; the resulting material is collected in urine and analyzed using laboratory methods.