bioAffinity Technologies Inc. [BIAF] Revenue clocked in at $0.00 million, down -30.72% YTD: What’s Next?

bioAffinity Technologies Inc. [NASDAQ: BIAF] jumped around 0.36 points on Wednesday, while shares priced at $5.75 at the close of the session, up 6.68%. The company report on September 6, 2022 that WallachBeth Capital Announces Closing Of bioAffinity Technologies, Inc. $7.8 Million Initial Public Offering.


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WallachBeth Capital LLC, a leading provider of capital markets and institutional execution services, announced today bioAffinity Technologies, Inc. (“bioAffinity” or the “Company”) (NASDAQ: BIAF, BIAFW), a cancer diagnostics company that develops noninvasive, early-stage diagnostics to detect cancer and diseases of the lung, has completed its previously announced initial public offering (“IPO”) of 1,282,600 units, each consisting of one share of common stock, one tradeable warrant to purchase one share of common stock at an exercise price of $7.35 per share, and one non-tradeable warrant to purchase one share of common stock at an exercise price of $7.656 per share, for aggregate gross proceeds of approximately $7.8 million, prior to deducting underwriting discounts, commissions, and other offering expenses. In addition, bioAffinity has granted the underwriters a 45-day option to purchase up to 192,390 shares of common stock, and/or 192,390 tradeable warrants, and/or 192,390 non-tradeable warrants, or any combination of additional shares of common stock and warrants representing, in the aggregate, up to 15% of the number of the units sold in this offering to cover over-allotments in this offering.

WallachBeth Capital, LLC and Craft Capital Management, LLC are co-managers and co-book running managers for the offering.

Compared to the average trading volume of 9.75M shares, BIAF reached a trading volume of 12917201 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about bioAffinity Technologies Inc. [BIAF]?

The Average True Range (ATR) for bioAffinity Technologies Inc. is set at 4.56, with the Price to Sales ratio for BIAF stock in the period of the last 12 months amounting to 6692.19.

How has BIAF stock performed recently?

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum.

bioAffinity Technologies Inc. [BIAF]: Deeper insight into the fundamentals

bioAffinity Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.

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