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

Biofrontera Inc. (NASDAQ:BFRI) was the target of a large decline in short interest during 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. Approximately 1.3% of the company’s stock are sold short. Based on an average daily trading volume, of 108,670 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily trading volume, of 108,670 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.3% of the company’s stock are sold short.

Biofrontera Trading Up 2.6%

Biofrontera stock opened at $0.79 on Friday. The stock has a 50 day moving average of $0.82 and a two-hundred day moving average of $0.90. Biofrontera has a twelve month low of $0.54 and a twelve month high of $1.19. The stock has a market capitalization of $9.20 million, a price-to-earnings ratio of -0.48 and a beta of 0.62.

Biofrontera (NASDAQ:BFRI) last released its earnings results on Wednesday, November 12th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $7.00 million. Equities analysts predict that Biofrontera will post -3.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

BFRI has been the subject of several research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Biofrontera in a research note on Thursday, October 30th. Benchmark reissued a “buy” rating on shares of Biofrontera in a research report on Friday, November 14th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $2.75.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BFRI. AIGH Capital Management LLC boosted its holdings in Biofrontera by 33.1% in the 2nd quarter. AIGH Capital Management LLC now owns 974,525 shares of the company’s stock valued at $693,000 after purchasing an additional 242,370 shares in the last quarter. Rosalind Advisors Inc. raised its stake in shares of Biofrontera by 51.5% during the 2nd quarter. Rosalind Advisors Inc. now owns 976,448 shares of the company’s stock worth $695,000 after buying an additional 332,055 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Biofrontera by 54.2% in the 4th quarter. Geode Capital Management LLC now owns 65,677 shares of the company’s stock valued at $37,000 after buying an additional 23,074 shares during the period. 10.08% of the stock is owned by hedge funds and other institutional investors.

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.