Short Interest in bioAffinity Technologies, Inc. (NASDAQ:BIAF) Declines By 37.4%

bioAffinity Technologies, Inc. (NASDAQ:BIAF) was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 327,035 shares, a decrease of 37.4% from the July 15th total of 522,561 shares. Currently, 7.1% of the shares of the stock are sold short. Based on an average trading volume of 217,393 shares, the short-interest ratio is currently 1.5 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. J. Safra Sarasin Holding AG acquired a new position in bioAffinity Technologies during the first quarter worth approximately $164,000. Geode Capital Management LLC acquired a new stake in bioAffinity Technologies during the fourth quarter worth about $36,000. Finally, Scientech Research LLC purchased a new position in shares of bioAffinity Technologies in the 3rd quarter worth about $49,000. Institutional investors and hedge funds own 1.64% of the company’s stock.

Wall Street Analyst Weigh In

BIAF has been the subject of a number of research reports. Weiss Ratings restated a “sell (e+)” rating on shares of bioAffinity Technologies in a research report on Monday, July 20th. Wall Street Zen upgraded shares of bioAffinity Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, bioAffinity Technologies presently has an average rating of “Sell”.

bioAffinity Technologies Price Performance

Shares of NASDAQ:BIAF traded up $0.09 on Tuesday, hitting $0.48. The company had a trading volume of 163,175,776 shares, compared to its average volume of 4,677,374. The company has a current ratio of 1.44, a quick ratio of 1.41 and a debt-to-equity ratio of 0.14. The company has a market cap of $3.89 million, a PE ratio of -0.07 and a beta of -1.04. bioAffinity Technologies has a 52-week low of $0.33 and a 52-week high of $13.50. The business has a 50 day moving average of $0.77 and a 200 day moving average of $1.61.

bioAffinity Technologies (NASDAQ:BIAF) last posted its quarterly earnings data on Friday, August 7th. The company reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.70 million.

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.