bioAffinity Technologies (NASDAQ:BIAF) Shares Down 2% – Here’s Why

bioAffinity Technologies, Inc. (NASDAQ:BIAF) was down 2% during trading on Monday . The company traded as low as $0.88 and last traded at $0.97. Approximately 173,044 shares traded hands during mid-day trading, an increase of 23% from the average daily volume of 140,314 shares. The stock had previously closed at $0.99.

bioAffinity Technologies Price Performance

The stock has a market capitalization of $15.16 million, a price-to-earnings ratio of -1.19 and a beta of 2.85. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $1.27 and its 200 day moving average is $1.73.

Institutional Trading of bioAffinity Technologies

An institutional investor recently bought a new position in bioAffinity Technologies stock. Ground Swell Capital LLC purchased a new position in shares of bioAffinity Technologies, Inc. (NASDAQ:BIAF) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 22,864 shares of the company’s stock, valued at approximately $49,000. Ground Swell Capital LLC owned about 0.20% of bioAffinity Technologies as of its most recent SEC filing. 1.64% of the stock is currently owned by hedge funds and other institutional investors.

About bioAffinity Technologies

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.