Short Interest in Biofrontera Inc. (NASDAQ:BFRI) Grows By 69.5%

Biofrontera Inc. (NASDAQ:BFRI) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 295,934 shares, a growth of 69.5% from the March 15th total of 174,589 shares. Based on an average trading volume of 124,454 shares, the short-interest ratio is presently 2.4 days. Currently, 2.7% of the company’s shares are short sold.

Biofrontera Price Performance

Shares of BFRI stock opened at $1.05 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.40 and a current ratio of 1.52. The stock has a 50 day moving average price of $0.88 and a 200 day moving average price of $0.89. Biofrontera has a 52-week low of $0.54 and a 52-week high of $1.19. The firm has a market capitalization of $12.23 million, a P/E ratio of -1.02 and a beta of 0.63.

Biofrontera (NASDAQ:BFRI) last released its earnings results on Thursday, March 19th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.21. The business had revenue of $17.10 million during the quarter, compared to the consensus estimate of $16.15 million. Biofrontera had a negative return on equity of 1,236.11% and a negative net margin of 25.26%. As a group, sell-side analysts predict that Biofrontera will post -3.01 earnings per share for the current year.

Hedge Funds Weigh In On Biofrontera

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its stake 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 acquiring an additional 23,074 shares in the last quarter. AIGH Capital Management LLC raised its stake in shares of Biofrontera by 7.3% during the third quarter. AIGH Capital Management LLC now owns 1,046,050 shares of the company’s stock valued at $1,030,000 after acquiring an additional 71,525 shares in the last quarter. Finally, Rosalind Advisors Inc. raised its stake in shares of Biofrontera by 16.8% during the third quarter. Rosalind Advisors Inc. now owns 1,140,764 shares of the company’s stock valued at $1,124,000 after acquiring an additional 164,316 shares in the last quarter. 10.08% of the stock is owned by hedge funds and other institutional investors.

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.