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

bioAffinity Technologies, Inc. (NASDAQ:BIAF) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 447,500 shares, an increase of 12.9% from the September 30th total of 396,200 shares. Based on an average daily volume of 141,400 shares, the days-to-cover ratio is presently 3.2 days. Currently, 6.0% of the shares of the stock are sold short.

Hedge Funds Weigh In On bioAffinity Technologies

A hedge fund recently bought a new stake in bioAffinity Technologies stock. Ground Swell Capital LLC acquired a new stake in bioAffinity Technologies, Inc. (NASDAQ:BIAF) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 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.

Wall Street Analysts Forecast Growth

Separately, Maxim Group initiated coverage on bioAffinity Technologies in a research report on Tuesday, July 23rd. They set a “buy” rating and a $6.00 price objective for the company.

bioAffinity Technologies Trading Down 3.0 %

BIAF traded down $0.04 during midday trading on Tuesday, hitting $1.31. The company’s stock had a trading volume of 37,748 shares, compared to its average volume of 143,340. The company has a current ratio of 1.15, a quick ratio of 1.14 and a debt-to-equity ratio of 0.19. The firm has a market cap of $15.27 million, a P/E ratio of -1.40 and a beta of 2.92. The firm has a 50-day moving average price of $1.73 and a two-hundred day moving average price of $2.07. bioAffinity Technologies has a 52-week low of $1.15 and a 52-week high of $3.62.

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

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.