bioAffinity Technologies (NASDAQ:BIAF) Announces Earnings Results

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

bioAffinity Technologies Stock Up 44.5%

Shares of BIAF traded up $2.03 during mid-day trading on Tuesday, hitting $6.59. 43,474,882 shares of the company’s stock were exchanged, compared to its average volume of 562,950. bioAffinity Technologies has a 52 week low of $4.56 and a 52 week high of $202.50. The company has a 50-day simple moving average of $9.20 and a 200 day simple moving average of $23.39. The company has a market cap of $3.89 million, a PE ratio of -0.06 and a beta of -1.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.44 and a quick ratio of 1.41.

Hedge Funds Weigh In On bioAffinity Technologies

Hedge funds have recently modified their holdings of the stock. Scientech Research LLC acquired a new position in bioAffinity Technologies during the third quarter valued at approximately $49,000. Geode Capital Management LLC acquired a new stake in bioAffinity Technologies in the fourth quarter valued at $36,000. Finally, J. Safra Sarasin Holding AG acquired a new position in shares of bioAffinity Technologies during the 1st quarter worth about $164,000. Institutional investors own 1.64% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.