bioAffinity Technologies (NASDAQ:BIAF) Announces Earnings Results

bioAffinity Technologies (NASDAQ:BIAF) posted its quarterly earnings results on Friday. The company reported ($5.89) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $1.07 million during the quarter. bioAffinity Technologies had a negative return on equity of 220.52% and a negative net margin of 257.30%.

bioAffinity Technologies Stock Performance

Shares of BIAF traded up $0.11 during trading hours on Friday, hitting $2.71. The stock had a trading volume of 18,558 shares, compared to its average volume of 1,292,042. The firm has a 50-day moving average price of $5.95 and a 200 day moving average price of $18.77. bioAffinity Technologies has a fifty-two week low of $2.54 and a fifty-two week high of $80.70. The firm has a market capitalization of $1.63 million, a price-to-earnings ratio of -0.02 and a beta of -1.04. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.41 and a current ratio of 1.44.

Analyst Ratings Changes

Several equities research analysts have commented on BIAF shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of bioAffinity Technologies in a report on Friday, October 16th. Wall Street Zen upgraded bioAffinity Technologies from a “sell” rating to a “hold” rating in a research note on Monday, August 10th. One analyst has rated the stock with a Sell rating. According to MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in bioAffinity Technologies stock. J. Safra Sarasin Holding AG acquired a new position in bioAffinity Technologies, Inc. (NASDAQ:BIAF) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission. 1.64% of the stock is owned by institutional investors and hedge funds.

About bioAffinity Technologies

bioAffinity Technologies, Inc is a biotechnology company focused on developing diagnostic and therapeutic products for cancer and other serious diseases. The company’s platform uses porphyrin-based compounds designed to selectively identify or target abnormal cells, with the goal of supporting earlier disease detection and more precise treatment.

Its lead diagnostic product, CyPath Lung, is an investigational, noninvasive urine test intended to aid in the detection of lung cancer. The test uses an inhaled porphyrin compound that can bind to cancer cells in the lungs; the resulting material is collected in urine and analyzed using laboratory methods.