bioAffinity Technologies, Inc. (NASDAQ:BIAF) Short Interest Up 124.8% in June

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BIAF shares. Weiss Ratings downgraded shares of bioAffinity Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 22nd. Wall Street Zen cut shares of bioAffinity Technologies from a “hold” rating to a “sell” rating in a report on Sunday, July 5th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, bioAffinity Technologies presently has an average rating of “Sell”.

bioAffinity Technologies Trading Up 1.4%

BIAF opened at $0.71 on Wednesday. The stock has a market capitalization of $3.36 million, a P/E ratio of -0.06 and a beta of -1.11. The company has a current ratio of 1.36, a quick ratio of 1.34 and a debt-to-equity ratio of 0.15. bioAffinity Technologies has a 12 month low of $0.61 and a 12 month high of $13.50. The firm’s fifty day simple moving average is $1.34 and its 200 day simple moving average is $1.72.

bioAffinity Technologies (NASDAQ:BIAF) last released its earnings results on Friday, May 8th. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.40) by $1.59. bioAffinity Technologies had a negative return on equity of 285.75% and a negative net margin of 280.53%.The firm had revenue of $1.35 million during the quarter, compared to analysts’ expectations of $1.48 million.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Scientech Research LLC acquired a new stake in bioAffinity Technologies in the 3rd quarter valued at approximately $49,000. Geode Capital Management LLC bought a new stake in bioAffinity Technologies in the 4th quarter valued at approximately $36,000. Finally, J. Safra Sarasin Holding AG bought a new stake in bioAffinity Technologies in the 1st quarter valued at approximately $164,000. 1.64% of the stock is currently owned by institutional investors.

bioAffinity Technologies Company Profile

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.