Short Interest in Biofrontera Inc. (NASDAQ:BFRI) Decreases By 25.0%

Biofrontera Inc. (NASDAQ:BFRI) saw a large decline in short interest in February. As of February 15th, there was short interest totalling 165,500 shares, a decline of 25.0% from the January 31st total of 220,600 shares. Based on an average daily volume of 800,200 shares, the days-to-cover ratio is presently 0.2 days. Currently, 2.6% of the shares of the company are short sold.

Biofrontera Trading Down 4.9 %

Shares of BFRI traded down $0.04 during trading hours on Tuesday, reaching $0.83. The company had a trading volume of 44,260 shares, compared to its average volume of 921,577. The company has a market capitalization of $6.41 million, a price-to-earnings ratio of -0.37 and a beta of 0.29. Biofrontera has a 12-month low of $0.65 and a 12-month high of $2.43. The firm has a 50 day simple moving average of $1.09 and a 200-day simple moving average of $1.05.

Analyst Upgrades and Downgrades

Separately, Benchmark restated a “buy” rating and issued a $7.00 price target on shares of Biofrontera in a research note on Friday, November 15th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of Biofrontera in the fourth quarter valued at about $48,000. AIGH Capital Management LLC grew its holdings in Biofrontera by 61.8% during the 4th quarter. AIGH Capital Management LLC now owns 811,097 shares of the company’s stock valued at $884,000 after buying an additional 309,663 shares during the last quarter. Finally, Rosalind Advisors Inc. raised its holdings in shares of Biofrontera by 63.9% in the fourth quarter. Rosalind Advisors Inc. now owns 811,918 shares of the company’s stock worth $885,000 after acquiring an additional 316,428 shares during the last quarter. Hedge funds and other institutional investors own 10.08% of the company’s stock.

About Biofrontera

Biofrontera Inc, a biopharmaceutical company, engages in the commercialization of pharmaceutical products for the treatment of dermatological conditions in the United States. The company's products are used for the treatment of actinic keratoses, which are pre-cancerous skin lesions, as well as impetigo, a bacterial skin infection.