bioAffinity Technologies (NASDAQ:BIAF) Releases Quarterly Earnings Results, Beats Expectations By $27.56 EPS

bioAffinity Technologies (NASDAQ:BIAF) announced its earnings results on Friday. The company reported ($3.94) earnings per share for the quarter, topping analysts’ consensus estimates of ($31.50) by $27.56, Zacks reports. bioAffinity Technologies had a negative net margin of 257.30% and a negative return on equity of 220.52%. The business had revenue of $1.07 million during the quarter, compared to the consensus estimate of $1.91 million.

bioAffinity Technologies Price Performance

Shares of BIAF opened at $2.71 on Friday. The firm has a market cap of $1.63 million, a PE ratio of -0.06 and a beta of -1.04. bioAffinity Technologies has a 52-week low of $2.54 and a 52-week high of $80.70. The business’s 50 day moving average price is $5.90 and its two-hundred day moving average price is $18.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.41 and a current ratio of 1.44.

Analyst Ratings Changes

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of bioAffinity Technologies in a research report on Friday, October 16th. Wall Street Zen raised bioAffinity Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, bioAffinity Technologies has a consensus rating of “Sell”.

Institutional Trading of bioAffinity Technologies

An institutional investor recently bought a new position in bioAffinity Technologies stock. J. Safra Sarasin Holding AG bought a new stake in shares of bioAffinity Technologies, Inc. (NASDAQ:BIAF) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 42,600 shares of the company’s stock, valued at approximately $164,000. J. Safra Sarasin Holding AG owned 0.95% of bioAffinity Technologies as of its most recent SEC filing. Institutional investors own 1.64% of the company’s stock.

About bioAffinity Technologies

bioAffinity Technologies, Inc is a biotechnology company focused on developing diagnostic and therapeutic products for cancer and other serious diseases. The company’s platform uses porphyrin-based compounds designed to selectively identify or target abnormal cells, with the goal of supporting earlier disease detection and more precise treatment.

Its lead diagnostic product, CyPath Lung, is an investigational, noninvasive urine test intended to aid in the detection of lung cancer. The test uses an inhaled porphyrin compound that can bind to cancer cells in the lungs; the resulting material is collected in urine and analyzed using laboratory methods.