Biofrontera Inc. (NASDAQ:BFRI) Sees Significant Decline in Short Interest

Biofrontera Inc. (NASDAQ:BFRI) was the recipient of a significant decline in short interest in the month of January. As of January 30th, there was short interest totaling 141,320 shares, a decline of 43.9% from the January 15th total of 251,788 shares. Based on an average trading volume of 108,670 shares, the days-to-cover ratio is presently 1.3 days. Currently, 1.3% of the company’s shares are sold short. Currently, 1.3% of the company’s shares are sold short. Based on an average trading volume of 108,670 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Trading of Biofrontera

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. AIGH Capital Management LLC raised its position in Biofrontera by 33.1% in the 2nd quarter. AIGH Capital Management LLC now owns 974,525 shares of the company’s stock worth $693,000 after buying an additional 242,370 shares during the last quarter. Rosalind Advisors Inc. grew its stake in shares of Biofrontera by 16.8% in the third quarter. Rosalind Advisors Inc. now owns 1,140,764 shares of the company’s stock worth $1,124,000 after acquiring an additional 164,316 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Biofrontera by 54.2% during the fourth quarter. Geode Capital Management LLC now owns 65,677 shares of the company’s stock valued at $37,000 after purchasing an additional 23,074 shares during the last quarter. Hedge funds and other institutional investors own 10.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Biofrontera in a research note on Thursday, October 30th. Benchmark reiterated a “buy” rating on shares of Biofrontera in a report on Friday, November 14th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $2.75.

Biofrontera Stock Down 1.3%

NASDAQ BFRI opened at $0.78 on Friday. The firm has a market capitalization of $9.09 million, a PE ratio of -0.48 and a beta of 0.62. The stock’s 50 day moving average is $0.81 and its 200 day moving average is $0.90. Biofrontera has a twelve month low of $0.54 and a twelve month high of $1.19.

Biofrontera (NASDAQ:BFRI) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.01. Biofrontera had a negative return on equity of 1,104.09% and a negative net margin of 47.28%.The business had revenue of $6.99 million during the quarter, compared to analyst estimates of $7.00 million. On average, research analysts anticipate that Biofrontera will post -3.01 earnings per share for the current year.

About Biofrontera

Biofrontera AG is a specialty biopharmaceutical company focused on the research, development and commercialization of products for dermatological applications. The company’s core expertise lies in photodynamic therapy (PDT), a treatment modality that uses a photosensitizing agent activated by a specific light source to target diseased skin cells while sparing surrounding healthy tissue.

The flagship product in Biofrontera’s portfolio is Ameluz (aminolevulinic acid hydrochloride 10 % gel), which has received marketing approval in the European Union for treatment of actinic keratosis and basal cell carcinoma, and in the United States for actinic keratosis.