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

bioAffinity Technologies, Inc. (NASDAQ:BIAF) was the target of a large decrease in short interest in August. As of August 15th, there was short interest totalling 291,900 shares, a decrease of 58.8% from the July 31st total of 708,000 shares. Based on an average trading volume of 108,200 shares, the days-to-cover ratio is currently 2.7 days. Currently, 4.5% of the company’s shares are short sold.

bioAffinity Technologies Stock Down 1.9 %

Shares of BIAF traded down $0.03 during mid-day trading on Thursday, hitting $1.55. 34,688 shares of the company’s stock were exchanged, compared to its average volume of 142,856. The firm has a fifty day moving average of $2.10 and a two-hundred day moving average of $2.15. bioAffinity Technologies has a twelve month low of $0.95 and a twelve month high of $3.62. The stock has a market cap of $18.07 million, a price-to-earnings ratio of -1.67 and a beta of 2.95. The company has a quick ratio of 2.21, a current ratio of 2.22 and a debt-to-equity ratio of 0.14.

Wall Street Analyst Weigh In

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

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 bioAffinity Technologies, Inc. (NASDAQ:BIAF) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,864 shares of the company’s stock, valued at approximately $49,000. Ground Swell Capital LLC owned 0.20% of bioAffinity Technologies at the end of the most recent reporting period. 1.64% of the stock is owned by 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.