bioAffinity Technologies, Inc. (NASDAQ:BIAF) Sees Large Decline in Short Interest

bioAffinity Technologies, Inc. (NASDAQ:BIAF) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 66,654 shares, a decline of 42.3% from the September 30th total of 115,467 shares. Currently, 11.4% of the shares of the company are sold short. Based on an average daily trading volume, of 3,440,106 shares, the short-interest ratio is presently 0.0 days.

bioAffinity Technologies Price Performance

NASDAQ BIAF opened at $2.99 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.44 and a quick ratio of 1.41. The company has a 50 day simple moving average of $6.09 and a 200-day simple moving average of $19.03. bioAffinity Technologies has a 52-week low of $2.66 and a 52-week high of $80.70.

bioAffinity Technologies (NASDAQ:BIAF) last announced its quarterly earnings data on Friday, August 7th. The company reported ($0.64) EPS for the quarter, beating analysts’ consensus estimates of ($31.50) by $30.86. 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 for the quarter, compared to the consensus estimate of $1.70 million.

Institutional Trading of bioAffinity Technologies

An institutional investor recently bought a new position in bioAffinity Technologies stock. J. Safra Sarasin Holding AG purchased a new stake in bioAffinity Technologies, Inc. (NASDAQ:BIAF) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 42,600 shares of the company’s stock, valued at approximately $164,000. J. Safra Sarasin Holding AG owned about 0.95% of bioAffinity Technologies as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 1.64% of the company’s stock.

Wall Street Analysts Forecast Growth

BIAF has been the topic of several recent analyst reports. Wall Street Zen raised bioAffinity Technologies from a “sell” rating to a “hold” rating in a research note on Monday, August 10th. Weiss Ratings restated a “sell (e+)” rating on shares of bioAffinity Technologies in a research report on Friday, October 16th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

About bioAffinity Technologies

bioAffinity Technologies, Inc is a biotechnology company focused on developing diagnostic and therapeutic products for cancer and other serious diseases. The company’s platform uses porphyrin-based compounds designed to selectively identify or target abnormal cells, with the goal of supporting earlier disease detection and more precise treatment.

Its lead diagnostic product, CyPath Lung, is an investigational, noninvasive urine test intended to aid in the detection of lung cancer. The test uses an inhaled porphyrin compound that can bind to cancer cells in the lungs; the resulting material is collected in urine and analyzed using laboratory methods.