Biofrontera Inc. (NASDAQ:BFRI) Sees Large Growth in Short Interest

Biofrontera Inc. (NASDAQ:BFRI) was the target of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 436,863 shares, an increase of 209.1% from the January 29th total of 141,320 shares. Based on an average daily trading volume, of 1,530,774 shares, the short-interest ratio is currently 0.3 days. Currently, 3.9% of the shares of the company are sold short. Currently, 3.9% of the shares of the company are sold short. Based on an average daily trading volume, of 1,530,774 shares, the short-interest ratio is currently 0.3 days.

Biofrontera Trading Up 7.8%

NASDAQ BFRI opened at $0.92 on Thursday. The company has a market cap of $10.67 million, a price-to-earnings ratio of -0.56 and a beta of 0.62. The company has a 50 day moving average of $0.83 and a 200-day moving average of $0.89. Biofrontera has a 1-year low of $0.54 and a 1-year high of $1.19.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in Biofrontera by 54.2% during the fourth quarter. Geode Capital Management LLC now owns 65,677 shares of the company’s stock worth $37,000 after purchasing an additional 23,074 shares during the period. Rosalind Advisors Inc. raised its position in shares of Biofrontera by 51.5% in the 2nd quarter. Rosalind Advisors Inc. now owns 976,448 shares of the company’s stock valued at $695,000 after buying an additional 332,055 shares in the last quarter. Finally, AIGH Capital Management LLC lifted its holdings in shares of Biofrontera by 7.3% during the 3rd quarter. AIGH Capital Management LLC now owns 1,046,050 shares of the company’s stock worth $1,030,000 after acquiring an additional 71,525 shares during the period. Institutional investors own 10.08% of the company’s stock.

Analysts Set New Price Targets

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

Biofrontera Company Profile

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.