Short Interest in bioAffinity Technologies, Inc. (NASDAQ:BIAF) Decreases By 36.0%

bioAffinity Technologies, Inc. (NASDAQ:BIAF) saw a significant drop in short interest in July. As of July 15th, there was short interest totaling 522,561 shares, a drop of 36.0% from the June 30th total of 816,644 shares. Currently, 11.3% of the company’s stock are short sold. Based on an average trading volume of 589,484 shares, the short-interest ratio is presently 0.9 days.

Institutional Trading of bioAffinity Technologies

Large investors have recently added to or reduced their stakes in the company. J. Safra Sarasin Holding AG purchased a new position in shares of bioAffinity Technologies in the first quarter worth about $164,000. Geode Capital Management LLC purchased a new position in shares of bioAffinity Technologies during the fourth quarter worth $36,000. Finally, Scientech Research LLC purchased a new position in shares of bioAffinity Technologies during the third quarter worth $49,000. Hedge funds and other institutional investors own 1.64% of the company’s stock.

Wall Street Analyst Weigh In

BIAF has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of bioAffinity Technologies in a report on Monday, July 20th. Wall Street Zen upgraded bioAffinity Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

bioAffinity Technologies Stock Performance

BIAF stock traded down $0.02 during trading on Thursday, reaching $0.57. The company had a trading volume of 30,876 shares, compared to its average volume of 3,949,597. The company has a market cap of $2.68 million, a price-to-earnings ratio of -0.05 and a beta of -1.11. bioAffinity Technologies has a twelve month low of $0.56 and a twelve month high of $13.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.34 and a current ratio of 1.36. The firm has a 50-day simple moving average of $1.08 and a 200-day simple moving average of $1.68.

bioAffinity Technologies (NASDAQ:BIAF) last issued its quarterly earnings results on Friday, May 8th. The company reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.40) by $1.59. The business had revenue of $1.35 million for the quarter, compared to analyst estimates of $1.48 million. bioAffinity Technologies had a negative net margin of 280.53% and a negative return on equity of 285.75%.

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.