bioAffinity Technologies, Inc. (NASDAQ:BIAF) Short Interest Down 37.4% in July

bioAffinity Technologies, Inc. (NASDAQ:BIAF) saw 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. Approximately 7.1% of the company’s stock are short sold. Based on an average daily trading volume, of 217,393 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Trading of bioAffinity Technologies

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC purchased a new position in bioAffinity Technologies in the 4th quarter valued at about $36,000. Scientech Research LLC acquired a new position in bioAffinity Technologies in the 3rd quarter valued at about $49,000. Finally, J. Safra Sarasin Holding AG acquired a new stake in bioAffinity Technologies during the first quarter worth $164,000. 1.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wall Street Zen upgraded bioAffinity Technologies from a “sell” rating to a “hold” rating in a report on Monday, August 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of bioAffinity Technologies in a report on Monday, July 20th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, bioAffinity Technologies has a consensus rating of “Sell”.

bioAffinity Technologies Stock Down 9.6%

BIAF stock traded down $0.05 on Wednesday, hitting $0.43. 3,085,704 shares of the company’s stock were exchanged, compared to its average volume of 4,722,641. The firm has a 50 day moving average price of $0.75 and a two-hundred day moving average price of $1.60. bioAffinity Technologies has a 12-month low of $0.33 and a 12-month high of $13.50. The stock has a market cap of $3.47 million, a P/E ratio of -0.06 and a beta of -1.04. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.41 and a current ratio of 1.44.

bioAffinity Technologies (NASDAQ:BIAF) last issued its quarterly earnings results on Friday, August 7th. The company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($2.10) by $1.46. 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 during the quarter, compared to the consensus estimate of $1.70 million.

About bioAffinity Technologies

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.