Maxim Group analyst Anthony Vendetti has maintained their neutral stance on BIAF stock, giving a Hold rating on August 20.
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Anthony Vendetti has given his Hold rating due to a combination of factors affecting bioAffinity Technologies, Inc. While the company has shown promising growth in its CyPath Lung test sales and has a significant market opportunity in cancer detection, there are concerns about its financial health. The company’s recent quarterly results fell short of expectations, with revenue and gross margin below estimates and a wider GAAP loss per share.
Additionally, the company’s cash position is precarious, necessitating further capital raising to sustain operations, which introduces uncertainty. Although the CyPath Lung test has seen increased clinical adoption and the company plans to expand into new markets, the need for additional funding and the delay in initiating a large clinical trial are significant challenges. These factors contribute to a balanced risk/reward scenario, justifying the Hold recommendation as the company navigates these financial and operational hurdles.
In another report released on August 20, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $0.50 price target.
BIAF’s price has also changed dramatically for the past six months – from $0.830 to $0.249, which is a -70.0% drop .