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

bioAffinity Technologies, Inc. (NASDAQ:BIAF) saw a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 195,685 shares, a decline of 40.2% from the July 30th total of 327,035 shares. Currently, 2.5% of the company’s shares are sold short. Based on an average daily trading volume, of 361,563 shares, the days-to-cover ratio is currently 0.5 days.

bioAffinity Technologies Stock Up 0.1%

Shares of bioAffinity Technologies stock traded up $0.00 during trading on Monday, reaching $4.87. The company had a trading volume of 11,893 shares, compared to its average volume of 304,482. The firm’s fifty day moving average is $9.36 and its 200-day moving average is $23.46. bioAffinity Technologies has a fifty-two week low of $4.76 and a fifty-two week high of $202.50. The company has a market cap of $2.88 million, a price-to-earnings ratio of -0.04 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 earnings results on Friday, August 7th. The company reported ($9.60) EPS for the quarter, topping the consensus estimate of ($31.50) by $21.90. bioAffinity Technologies had a negative return on equity of 220.52% and a negative net margin of 257.30%.The company had revenue of $1.51 million during the quarter, compared to analyst estimates of $1.70 million.

Institutional Investors Weigh In On bioAffinity Technologies

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

Wall Street Analysts Forecast Growth

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

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.