bioAffinity Technologies, Inc. (NASDAQ:BIAF) Shares Shorted: Short Interest Up 61.9% in September

bioAffinity Technologies, Inc. (NASDAQ:BIAF) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totaling 71,167 shares, a growth of 61.9% from the August 31st total of 43,959 shares. Based on an average daily volume of 14,456,534 shares, the days-to-cover ratio is currently 0.0 days. Approximately 12.2% of the shares of the stock are sold short.

Institutional Inflows and Outflows

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

bioAffinity Technologies Price Performance

Shares of NASDAQ:BIAF traded down $0.18 during mid-day trading on Wednesday, reaching $6.70. The stock had a trading volume of 74,947 shares, compared to its average volume of 1,264,941. The business’s 50 day moving average price is $8.05 and its 200 day moving average price is $22.35. bioAffinity Technologies has a 1 year low of $4.56 and a 1 year high of $80.70. The company has a market cap of $4.03 million, a P/E ratio of -0.06 and a beta of -1.11. The company has a current ratio of 1.44, a quick ratio of 1.41 and a debt-to-equity ratio of 0.14.

bioAffinity Technologies (NASDAQ:BIAF) last released its quarterly earnings results on Friday, August 7th. The company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($31.50) by $30.86. bioAffinity Technologies had a negative return on equity of 220.52% and a negative net margin of 257.30%.The business had revenue of $1.51 million during the quarter, compared to analysts’ expectations of $1.70 million.

Wall Street Analyst Weigh In

A number of research firms recently commented on BIAF. Weiss Ratings reissued a “sell (e+)” rating on shares of bioAffinity Technologies in a 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 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 Company Profile

bioAffinity Technologies, Inc is a biotechnology company focused on developing diagnostics and therapeutics for cancer and other serious diseases. The company’s technology uses porphyrin compounds that can selectively interact with cancer cells, supporting applications in both disease detection and treatment.

Its lead diagnostic product, CyPath Lung, is a noninvasive urine-based test designed to aid in the early detection of lung cancer. The test is intended to identify cancer-related signals in urine and is being developed as an alternative or complement to existing screening and diagnostic methods.

bioAffinity is also developing porphyrin-based therapeutic programs, including inhaled treatments intended to target cancer cells in the lungs.