Short Interest in Biofrontera Inc. (NASDAQ:BFRI) Rises By 70.1%

Biofrontera Inc. (NASDAQ:BFRI) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 86,457 shares, a growth of 70.1% from the December 15th total of 50,833 shares. Based on an average daily trading volume, of 99,391 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.8% of the company’s shares are sold short. Currently, 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 99,391 shares, the days-to-cover ratio is presently 0.9 days.

Biofrontera Stock Down 0.3%

Shares of Biofrontera stock opened at $0.83 on Friday. The business has a 50 day moving average of $0.79 and a 200 day moving average of $0.89. Biofrontera has a 52 week low of $0.54 and a 52 week high of $1.24. The company has a market cap of $9.70 million, a PE ratio of -0.51 and a beta of 0.59.

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

Hedge Funds Weigh In On Biofrontera

An institutional investor recently raised its position in Biofrontera stock. AIGH Capital Management LLC boosted its stake in Biofrontera Inc. (NASDAQ:BFRI) by 33.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 974,525 shares of the company’s stock after purchasing an additional 242,370 shares during the period. AIGH Capital Management LLC owned approximately 9.61% of Biofrontera worth $693,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 10.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on BFRI. Weiss Ratings restated a “sell (e+)” rating on shares of Biofrontera in a report on Thursday, October 30th. Benchmark reiterated a “buy” rating on shares of Biofrontera in a research report on Friday, November 14th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.