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

Biofrontera Inc. (NASDAQ:BFRI) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 27,890 shares, a decline of 50.2% from the June 15th total of 56,055 shares. Based on an average daily trading volume, of 314,176 shares, the short-interest ratio is currently 0.1 days. Currently, 0.2% of the shares of the company are sold short.

Biofrontera Price Performance

Shares of BFRI traded up $0.01 during mid-day trading on Thursday, hitting $1.10. The company’s stock had a trading volume of 16,044 shares, compared to its average volume of 350,565. The firm has a 50-day moving average price of $0.97 and a 200 day moving average price of $0.92. The stock has a market capitalization of $14.15 million, a price-to-earnings ratio of -1.14 and a beta of 0.81. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.20 and a quick ratio of 1.09. Biofrontera has a fifty-two week low of $0.55 and a fifty-two week high of $1.21.

Biofrontera (NASDAQ:BFRI) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.29). Biofrontera had a negative net margin of 25.66% and a negative return on equity of 515.34%. The company had revenue of $10.08 million for the quarter, compared to analyst estimates of $10.25 million. On average, research analysts predict that Biofrontera will post -0.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Biofrontera stock. Rosalind Advisors Inc. increased its position in shares of Biofrontera Inc. (NASDAQ:BFRI) by 51.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 976,448 shares of the company’s stock after acquiring an additional 332,055 shares during the quarter. Biofrontera accounts for about 0.3% of Rosalind Advisors Inc.’s holdings, making the stock its 27th largest position. Rosalind Advisors Inc. owned approximately 9.63% of Biofrontera worth $695,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 10.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BFRI shares. Zacks Research cut Biofrontera from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd. Weiss Ratings lowered shares of Biofrontera from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

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.