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

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

Analyst Upgrades and Downgrades

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

bioAffinity Technologies Stock Performance

Shares of BIAF stock opened at $6.14 on Friday. The firm’s 50 day moving average price is $7.89 and its 200-day moving average price is $22.10. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.41 and a current ratio of 1.44. bioAffinity Technologies has a one year low of $4.56 and a one year high of $80.70. The firm has a market cap of $3.68 million, a P/E ratio of -0.06 and a beta of -1.26.

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

Institutional Investors Weigh In On bioAffinity Technologies

A hedge fund recently bought a new stake in bioAffinity Technologies stock. J. Safra Sarasin Holding AG acquired a new stake in bioAffinity Technologies, Inc. (NASDAQ:BIAF) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 42,600 shares of the company’s stock, valued at approximately $164,000. J. Safra Sarasin Holding AG owned 0.95% of bioAffinity Technologies at the end of the most recent quarter. 1.64% of the stock is currently owned by institutional investors.

About bioAffinity Technologies

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.