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

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

Analyst Upgrades and Downgrades

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

bioAffinity Technologies Stock Performance

Shares of BIAF traded up $0.08 during midday trading on Friday, reaching $1.81. 45,748 shares of the stock were exchanged, compared to its average volume of 148,957. The stock’s 50 day simple moving average is $2.17 and its 200 day simple moving average is $2.15. The company has a market cap of $21.10 million, a P/E ratio of -1.95 and a beta of 2.95. bioAffinity Technologies has a twelve month low of $0.95 and a twelve month high of $3.62. The company has a quick ratio of 2.21, a current ratio of 2.22 and a debt-to-equity ratio of 0.14.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in bioAffinity Technologies stock. Ground Swell Capital LLC bought a new stake in bioAffinity Technologies, Inc. (NASDAQ:BIAF) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 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 quarter. 1.64% of the stock is currently owned by hedge funds and other institutional investors.

bioAffinity Technologies Company Profile

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.