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

bioAffinity Technologies, Inc. (NASDAQ:BIAF) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 708,000 shares, a growth of 17.3% from the July 15th total of 603,700 shares. Based on an average trading volume of 119,800 shares, the days-to-cover ratio is presently 5.9 days. Currently, 12.6% of the shares of the company are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in bioAffinity Technologies stock. Ground Swell Capital LLC purchased a new stake in shares of bioAffinity Technologies, Inc. (NASDAQ:BIAF) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 22,864 shares of the company’s stock, valued at approximately $49,000. Ground Swell Capital LLC owned approximately 0.20% of bioAffinity Technologies at the end of the most recent reporting period. Institutional investors own 1.64% of the company’s stock.

Analyst Ratings Changes

Separately, Maxim Group assumed coverage on shares of bioAffinity Technologies in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $6.00 target price for the company.

bioAffinity Technologies Stock Performance

bioAffinity Technologies stock traded up $0.08 during mid-day trading on Friday, reaching $1.81. The company’s stock had a trading volume of 45,748 shares, compared to its average volume of 148,957. The firm’s fifty day moving average price is $2.17 and its two-hundred day moving average price is $2.14. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.21 and a current ratio of 2.22. bioAffinity Technologies has a 12-month low of $0.95 and a 12-month high of $3.62. The company has a market capitalization of $21.10 million, a P/E ratio of -1.95 and a beta of 2.95.

bioAffinity Technologies (NASDAQ:BIAF) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.21) earnings per share for the quarter. bioAffinity Technologies had a negative net margin of 171.43% and a negative return on equity of 134.34%. The company had revenue of $2.41 million during the quarter.

About bioAffinity Technologies

bioAffinity Technologies, Inc, a biotechnology company, engages in developing non-invasive diagnostic tests and targeted cancer therapeutics. The company offers CyPath lung, a diagnostic test, for early detection of lung cancer. It also researches targeted therapies to treat lung cancer and other diseases of the lung at the cellular level.