bioAffinity Technologies (NASDAQ:BIAF) Issues Earnings Results, Beats Estimates By $27.56 EPS

bioAffinity Technologies (NASDAQ:BIAF) announced its earnings results on Friday. The company reported ($3.94) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($31.50) by $27.56, Zacks reports. bioAffinity Technologies had a negative return on equity of 220.52% and a negative net margin of 257.30%. The company had revenue of $1.07 million for the quarter, compared to analyst estimates of $1.91 million.

bioAffinity Technologies Price Performance

NASDAQ:BIAF opened at $2.71 on Friday. bioAffinity Technologies has a 52-week low of $2.54 and a 52-week high of $80.70. The stock has a 50-day simple moving average of $5.90 and a 200 day simple moving average of $18.69. The company has a current ratio of 1.44, a quick ratio of 1.41 and a debt-to-equity ratio of 0.14.

Institutional Trading of bioAffinity Technologies

A hedge fund recently bought a new stake in bioAffinity Technologies stock. J. Safra Sarasin Holding AG purchased a new position in shares of bioAffinity Technologies, Inc. (NASDAQ:BIAF) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 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 at the end of the most recent quarter. 1.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BIAF has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of bioAffinity Technologies in a report on Friday, October 16th. Wall Street Zen raised shares of bioAffinity Technologies from a “sell” rating to a “hold” rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

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.