Biofrontera Inc. (NASDAQ:BFRI) Short Interest Down 28.9% in January

Biofrontera Inc. (NASDAQ:BFRI) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 220,600 shares, a drop of 28.9% from the January 15th total of 310,300 shares. Based on an average trading volume of 861,400 shares, the days-to-cover ratio is presently 0.3 days. Currently, 3.6% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

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

Biofrontera Stock Performance

Shares of Biofrontera stock traded up $0.01 on Friday, hitting $1.18. 217,422 shares of the company’s stock were exchanged, compared to its average volume of 250,996. The company has a 50-day simple moving average of $1.08 and a 200-day simple moving average of $1.06. The stock has a market capitalization of $9.15 million, a PE ratio of -0.52 and a beta of 0.29. Biofrontera has a 1 year low of $0.65 and a 1 year high of $2.43.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Rosalind Advisors Inc. lifted its stake in Biofrontera by 63.9% in the 4th quarter. Rosalind Advisors Inc. now owns 811,918 shares of the company’s stock worth $885,000 after purchasing an additional 316,428 shares in the last quarter. AIGH Capital Management LLC lifted its stake in Biofrontera by 61.8% in the 4th quarter. AIGH Capital Management LLC now owns 811,097 shares of the company’s stock worth $884,000 after purchasing an additional 309,663 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Biofrontera in the 4th quarter worth $48,000. Hedge funds and other institutional investors own 10.08% of the company’s stock.

Biofrontera Company Profile

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.