bioAffinity Technologies (NASDAQ:BIAF) Stock Price Down 13.8% – Here’s What Happened

Shares of bioAffinity Technologies, Inc. (NASDAQ:BIAF) dropped 13.8% during mid-day trading on Monday . The stock traded as low as $0.90 and last traded at $0.9305. Approximately 215,677 shares traded hands during trading, a decline of 20% from the average daily volume of 270,549 shares. The stock had previously closed at $1.08.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of bioAffinity Technologies in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

bioAffinity Technologies Stock Down 13.8%

The company has a market cap of $4.19 million, a PE ratio of -0.04 and a beta of 2.44. The firm has a 50-day simple moving average of $1.19 and a two-hundred day simple moving average of $3.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.65 and a quick ratio of 3.64.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sabby Management LLC acquired a new stake in shares of bioAffinity Technologies during the 3rd quarter worth about $719,000. Scientech Research LLC purchased a new position in shares of bioAffinity Technologies during the third quarter valued at approximately $49,000. Finally, Geode Capital Management LLC purchased a new position in shares of bioAffinity Technologies during the fourth quarter valued at approximately $36,000. 1.64% of the stock is currently owned by hedge funds and other institutional investors.

bioAffinity Technologies Company Profile

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.