bioAffinity Technologies Stock to Reverse Split on Monday, August 24th (NASDAQ:BIAF)

Shares of bioAffinity Technologies, Inc. (NASDAQ:BIAF) are set to reverse split on Monday, August 24th. The 1-15 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, August 23rd.

bioAffinity Technologies Trading Down 2.2%

Shares of bioAffinity Technologies stock traded down $0.01 on Thursday, reaching $0.40. 3,329,193 shares of the company were exchanged, compared to its average volume of 4,721,966. bioAffinity Technologies has a fifty-two week low of $0.33 and a fifty-two week high of $13.50. The stock has a fifty day moving average price of $0.71 and a 200-day moving average price of $1.59. The firm has a market capitalization of $3.24 million, a price-to-earnings ratio of -0.05 and a beta of -1.05. The company has a current ratio of 1.44, a quick ratio of 1.41 and a debt-to-equity ratio of 0.14.

bioAffinity Technologies (NASDAQ:BIAF) last posted its quarterly earnings results on Friday, August 7th. The company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($2.10) by $1.46. The firm had revenue of $1.51 million for the quarter, compared to analyst estimates of $1.70 million. bioAffinity Technologies had a negative return on equity of 220.52% and a negative net margin of 257.30%.

Analyst Ratings Changes

A number of equities analysts have recently commented on BIAF shares. Weiss Ratings reissued a “sell (e+)” rating on shares of bioAffinity Technologies in a research report on Monday, July 20th. Wall Street Zen upgraded shares of bioAffinity Technologies from a “sell” rating to a “hold” rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On bioAffinity Technologies

Institutional investors have recently added to or reduced their stakes in the company. Scientech Research LLC bought a new position in bioAffinity Technologies during the third quarter valued at about $49,000. Geode Capital Management LLC bought a new position in shares of bioAffinity Technologies during the 4th quarter worth about $36,000. Finally, J. Safra Sarasin Holding AG bought a new position in shares of bioAffinity Technologies during the 1st quarter worth about $164,000. 1.64% of the stock is owned by institutional investors and hedge funds.

About bioAffinity Technologies

bioAffinity Technologies, Inc (NASDAQ: BIAF) is a U.S.-based biotechnology company specializing in the development and commercialization of advanced in vitro diagnostic platforms for oncology. Leveraging proprietary bioaffinity and nanotechnology approaches, bioAffinity’s platforms are designed to isolate and analyze cancer-specific biomarkers from blood, tissue, and other biological samples with high sensitivity and specificity. The company’s core technologies aim to enable earlier detection of solid tumors, improved disease monitoring, and more personalized treatment strategies.

The company’s primary product pipeline includes assays targeting breast cancer and other solid tumor indications.