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

bioAffinity Technologies, Inc. (NASDAQ:BIAF) was the target of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 816,644 shares, a growth of 124.8% from the June 15th total of 363,268 shares. Based on an average daily volume of 849,109 shares, the days-to-cover ratio is currently 1.0 days. Approximately 17.7% of the shares of the company are sold short.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Scientech Research LLC acquired a new stake in bioAffinity Technologies during the third quarter worth approximately $49,000. Geode Capital Management LLC bought a new position in shares of bioAffinity Technologies in the fourth quarter worth $36,000. Finally, J. Safra Sarasin Holding AG bought a new position in shares of bioAffinity Technologies in the first quarter worth $164,000. 1.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BIAF has been the subject of a number of research analyst reports. Wall Street Zen cut shares of bioAffinity Technologies from a “hold” rating to a “sell” rating in a research report on Sunday, July 5th. Weiss Ratings lowered shares of bioAffinity Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

bioAffinity Technologies Stock Down 1.5%

BIAF opened at $0.71 on Friday. The stock has a fifty day moving average of $1.29 and a 200-day moving average of $1.72. The company has a market capitalization of $3.37 million, a P/E ratio of -0.06 and a beta of -1.11. bioAffinity Technologies has a fifty-two week low of $0.61 and a fifty-two week high of $13.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.34 and a current ratio of 1.36.

bioAffinity Technologies (NASDAQ:BIAF) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($2.40) by $1.59. bioAffinity Technologies had a negative net margin of 280.53% and a negative return on equity of 285.75%. The business had revenue of $1.35 million for the quarter, compared to the consensus estimate of $1.48 million.

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.