Short Interest in Biofrontera Inc. (NASDAQ:BFRI) Drops By 50.2%

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

Biofrontera Stock Performance

NASDAQ:BFRI traded up $0.02 on Wednesday, reaching $1.08. 136,480 shares of the company’s stock were exchanged, compared to its average volume of 352,915. The firm has a market cap of $13.82 million, a price-to-earnings ratio of -1.11 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. The stock has a fifty day simple moving average of $0.97 and a 200-day simple moving average of $0.92. Biofrontera has a 52 week low of $0.55 and a 52 week high of $1.21.

Biofrontera (NASDAQ:BFRI) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $10.08 million during the quarter, compared to the consensus estimate of $10.25 million. As a group, sell-side analysts predict that Biofrontera will post -0.3 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Trading of Biofrontera

A hedge fund recently raised its position in Biofrontera stock. Rosalind Advisors Inc. boosted its position in Biofrontera Inc. (NASDAQ:BFRI) by 51.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 976,448 shares of the company’s stock after purchasing an additional 332,055 shares during the quarter. Biofrontera comprises 0.3% of Rosalind Advisors Inc.’s investment portfolio, making the stock its 27th biggest position. Rosalind Advisors Inc. owned about 9.63% of Biofrontera worth $695,000 at the end of the most recent reporting period. 10.08% of the stock is owned by institutional investors and hedge funds.

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.