bioAffinity Technologies Shares Scheduled to Reverse Split on Monday, August 24th (NASDAQ:BIAF)

Shares of bioAffinity Technologies, Inc. (NASDAQ:BIAF) are set to reverse split on Monday, August 24th. The 1-15 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, August 23rd.

bioAffinity Technologies Stock Performance

NASDAQ:BIAF traded down $0.01 during trading hours on Thursday, reaching $0.40. The stock had a trading volume of 3,329,193 shares, compared to its average volume of 9,021,737. The stock has a market cap of $3.24 million, a P/E ratio of -0.05 and a beta of -1.05. The stock has a 50 day simple moving average of $0.71 and a 200 day simple moving average of $1.59. 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 has a 12-month low of $0.33 and a 12-month high of $13.50.

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 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 firm had revenue of $1.51 million for the quarter, compared to analyst estimates of $1.70 million.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wall Street Zen raised shares of 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 report on Monday, July 20th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, bioAffinity Technologies presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On bioAffinity Technologies

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC purchased a new stake in shares of bioAffinity Technologies in the fourth quarter worth about $36,000. Scientech Research LLC purchased a new position in bioAffinity Technologies during the third quarter valued at approximately $49,000. Finally, J. Safra Sarasin Holding AG bought a new stake in bioAffinity Technologies during the 1st quarter worth approximately $164,000. 1.64% of the stock is currently owned by institutional investors.

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.