bioAffinity Technologies, Inc. (NASDAQ:BIAF) Sees Significant Drop in Short Interest

bioAffinity Technologies, Inc. (NASDAQ:BIAF) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 271,400 shares, a decrease of 39.4% from the October 15th total of 447,500 shares. Approximately 3.7% of the shares of the company are short sold. Based on an average daily volume of 115,100 shares, the days-to-cover ratio is currently 2.4 days.

bioAffinity Technologies Price Performance

bioAffinity Technologies stock traded down $0.02 during mid-day trading on Friday, hitting $1.31. 40,610 shares of the company were exchanged, compared to its average volume of 139,858. The company has a quick ratio of 1.14, a current ratio of 1.15 and a debt-to-equity ratio of 0.19. The business has a fifty day moving average of $1.67 and a 200 day moving average of $1.96. bioAffinity Technologies has a 1-year low of $1.21 and a 1-year high of $3.62. The company has a market capitalization of $17.59 million, a PE ratio of -1.45 and a beta of 3.10.

bioAffinity Technologies (NASDAQ:BIAF) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.19) earnings per share (EPS) for the quarter. bioAffinity Technologies had a negative return on equity of 172.06% and a negative net margin of 120.76%. The company had revenue of $2.40 million for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in bioAffinity Technologies stock. Ground Swell Capital LLC bought a new position in shares of bioAffinity Technologies, Inc. (NASDAQ:BIAF) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,864 shares of the company’s stock, valued at approximately $49,000. Ground Swell Capital LLC owned about 0.20% of bioAffinity Technologies as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 1.64% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.