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

Biofrontera Inc. (NASDAQ:BFRI – Get Rating) saw a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 570,100 shares, a decline of 44.1% from the April 30th total of 1,020,000 shares. Based on an average trading volume of 1,810,000 shares, the short-interest ratio is currently 0.3 days. Currently, 6.3% of the shares of the stock are sold short.

A number of hedge funds have recently modified their holdings of the business. Qube Research & Technologies Ltd bought a new stake in Biofrontera during the 4th quarter worth about $103,000. Geode Capital Management LLC acquired a new stake in shares of Biofrontera in the fourth quarter valued at about $182,000. Susquehanna International Group LLP bought a new stake in Biofrontera during the fourth quarter worth about $384,000. BlackRock Inc. acquired a new position in Biofrontera during the fourth quarter valued at approximately $76,000. Finally, XTX Topco Ltd acquired a new position in Biofrontera during the first quarter valued at approximately $48,000. Hedge funds and other institutional investors own 4.10% of the company’s stock.

Separately, Zacks Investment Research downgraded Biofrontera from a “hold” rating to a “sell” rating in a research report on Friday.

BFRI opened at $2.94 on Friday. Biofrontera has a 12 month low of $2.20 and a 12 month high of $14.63. The company has a fifty day simple moving average of $3.43 and a 200 day simple moving average of $4.23.

Biofrontera (NASDAQ:BFRI – Get Rating) last released its quarterly earnings results on Friday, April 8th. The company reported ($0.42) earnings per share (EPS) for the quarter. The business had revenue of $9.17 million during the quarter. As a group, sell-side analysts forecast that Biofrontera will post -0.74 earnings per share for the current fiscal year.

About Biofrontera (Get Rating)

Biofrontera Inc, a biopharmaceutical company, engages in the commercialization of pharmaceutical products for the treatment of dermatological conditions in the United States. The company offers Ameluz, which is a prescription drug approved for use in combination with the company's licensor's medical device; and the RhodoLED lamp series for photodynamic therapy for the lesion-directed and field-directed treatment of actinic keratosis of mild-to-moderate severity on the face and scalp.

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