BioAffinity Technologies Inc (NASDAQ: BIAF)’s stock price has dropped by -33.80 in relation to previous closing price of 2.13. Nevertheless, the company has seen a loss of -26.18% in its stock price over the last five trading days. prnewswire.com reported 2024-10-18 that JERSEY CITY, N.J., Oct. 18, 2024 /PRNewswire/ — WallachBeth Capital LLC, a leading provider of capital markets and institutional execution services, announced today that– bioAffinity Technologies, Inc. (Nasdaq: BIAF; BIAFW), a biotechnology company focused on the need for noninvasive tests for the detection of early-stage cancer, has entered into a securities purchase agreement with institutional investors for the purchase and sale of 2,048,294 shares (the “Shares”) of common stock in a registered direct offering at a price of $1.30 per share and, in a concurrent private placement, common warrants (the “Warrants”) to purchase up to 2,662,782 shares of common stock at an exercise price of $1.50 per common share.
Is It Worth Investing in BioAffinity Technologies Inc (NASDAQ: BIAF) Right Now?
The stock has a 36-month beta value of 2.93. Opinions on the stock are mixed, with 1 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for BIAF is 7.45M, and at present, short sellers hold a 5.32% of that float. On October 21, 2024, the average trading volume of BIAF was 104.55K shares.
BIAF’s Market Performance
BIAF stock saw a decrease of -26.18% in the past week, with a monthly decline of -29.85% and a quarterly a decrease of -44.27%. The volatility ratio for the week is 20.12%, and the volatility levels for the last 30 days are 11.19% for BioAffinity Technologies Inc (BIAF). The simple moving average for the past 20 days is -27.21% for BIAF’s stock, with a -29.97% simple moving average for the past 200 days.
BIAF Trading at -20.70% from the 50-Day Moving Average
After a stumble in the market that brought BIAF to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -61.05% of loss for the given period.
Volatility was left at 11.19%, however, over the last 30 days, the volatility rate increased by 20.12%, as shares sank -31.55% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -19.89% lower at present.
During the last 5 trading sessions, BIAF fell by -26.18%, which changed the moving average for the period of 200-days by -7.24% in comparison to the 20-day moving average, which settled at $1.9370. In addition, BioAffinity Technologies Inc saw -4.11% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for BIAF
Current profitability levels for the company are sitting at:
- -1.19 for the present operating margin
- 0.29 for the gross margin
The net margin for BioAffinity Technologies Inc stands at -1.19. The total capital return value is set at -2.0. Equity return is now at value -151.52, with -112.51 for asset returns.
Based on BioAffinity Technologies Inc (BIAF), the company’s capital structure generated 0.13 points at debt to capital in total, while cash flow to debt ratio is standing at -13.9. The debt to equity ratio resting at 0.15. The interest coverage ratio of the stock is -139.08.
Currently, EBITDA for the company is -7.72 million with net debt to EBITDA at -0.07. When we switch over and look at the enterprise to sales, we see a ratio of 2.68. The receivables turnover for the company is 4.58for trailing twelve months and the total asset turnover is 1.1. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.15.
Conclusion
To sum up, BioAffinity Technologies Inc (BIAF) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
