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

bioAffinity Technologies, Inc. (NASDAQ:BIAF) was the target of a large drop in short interest in 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 daily volume of 361,563 shares, the days-to-cover ratio is currently 0.5 days. Approximately 2.5% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

BIAF has been the subject of several analyst reports. Wall Street Zen raised bioAffinity Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of bioAffinity Technologies in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Hedge Funds Weigh In On bioAffinity Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Scientech Research LLC acquired a new position in shares of bioAffinity Technologies during the 3rd quarter worth $49,000. Geode Capital Management LLC purchased a new position in shares of bioAffinity Technologies during the fourth quarter valued at approximately $36,000. Finally, J. Safra Sarasin Holding AG purchased a new position in shares of bioAffinity Technologies during the first quarter valued at approximately $164,000. 1.64% of the stock is owned by institutional investors and hedge funds.

bioAffinity Technologies Stock Performance

Shares of bioAffinity Technologies stock traded up $0.00 on Monday, reaching $4.87. 11,893 shares of the stock were exchanged, compared to its average volume of 304,482. The firm has a market capitalization of $2.88 million, a PE ratio of -0.04 and a beta of -1.04. bioAffinity Technologies has a 1-year low of $4.76 and a 1-year high of $202.50. The business has a fifty day moving average price of $9.36 and a two-hundred day moving average price of $23.46. The company has a current ratio of 1.44, a quick ratio of 1.41 and a debt-to-equity ratio of 0.14.

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

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.