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

bioAffinity Technologies, Inc. (NASDAQ:BIAF) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 335,900 shares, a growth of 59.3% from the August 31st total of 210,900 shares. Currently, 4.5% of the shares of the company are short sold. Based on an average daily volume of 111,300 shares, the short-interest ratio is currently 3.0 days.

bioAffinity Technologies Stock Performance

BIAF stock traded up $0.09 during mid-day trading on Friday, hitting $2.06. 39,432 shares of the company were exchanged, compared to its average volume of 137,560. The business has a 50 day simple moving average of $1.87 and a 200-day simple moving average of $2.14. 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 stock has a market capitalization of $24.02 million, a PE ratio of -2.22 and a beta of 2.92. bioAffinity Technologies has a 1-year low of $1.13 and a 1-year high of $3.62.

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

Institutional Investors Weigh In On bioAffinity Technologies

A hedge fund recently bought a new stake in bioAffinity Technologies stock. Ground Swell Capital LLC acquired a new position in shares of bioAffinity Technologies, Inc. (NASDAQ:BIAF) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 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 SEC filing. Hedge funds and other institutional investors own 1.64% of the company’s stock.

Analysts Set New Price Targets

Separately, Maxim Group started 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.

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.