bioAffinity Technologies, Inc. (NASDAQ:BIAF) Sees Significant Increase in Short Interest

bioAffinity Technologies, Inc. (NASDAQ:BIAF) was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 459,500 shares, a growth of 58.8% from the April 30th total of 289,300 shares. Based on an average daily trading volume, of 11,100,000 shares, the short-interest ratio is presently 0.0 days. Approximately 2.3% of the company’s stock are sold short.

bioAffinity Technologies Stock Performance

Shares of NASDAQ BIAF opened at $0.29 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.01 and a current ratio of 1.02. The stock has a 50 day moving average price of $0.42 and a 200 day moving average price of $0.67. The stock has a market capitalization of $8.18 million, a PE ratio of -0.36 and a beta of 3.01. bioAffinity Technologies has a 52 week low of $0.16 and a 52 week high of $2.99.

bioAffinity Technologies (NASDAQ:BIAF) last announced its quarterly earnings data on Thursday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.16). The company had revenue of $1.85 million for the quarter, compared to analysts’ expectations of $2.11 million. bioAffinity Technologies had a negative return on equity of 205.09% and a negative net margin of 91.22%.

Institutional Trading of bioAffinity Technologies

A hedge fund recently raised its stake in bioAffinity Technologies stock. Sheaff Brock Investment Advisors LLC lifted its position in shares of bioAffinity Technologies, Inc. (NASDAQ:BIAF) by 131.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,304 shares of the company’s stock after purchasing an additional 26,304 shares during the period. Sheaff Brock Investment Advisors LLC owned 0.30% of bioAffinity Technologies worth $42,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 1.64% of the company’s stock.

Analyst Ratings Changes

Separately, Maxim Group restated a “hold” rating on shares of bioAffinity Technologies in a research note on Tuesday, April 1st.

bioAffinity Technologies Company Profile

bioAffinity Technologies, Inc, a biotechnology company, engages in developing non-invasive diagnostic tests and targeted cancer therapeutics. The company offers CyPath lung, a diagnostic test, for early detection of lung cancer. It also researches targeted therapies to treat lung cancer and other diseases of the lung at the cellular level.