Biofrontera Inc. (NASDAQ:BFRI – Get Free Report) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 35,500 shares, a drop of 66.4% from the August 15th total of 105,500 shares. Based on an average daily volume of 156,100 shares, the short-interest ratio is currently 0.2 days. Approximately 1.0% of the shares of the stock are short sold.
Institutional Trading of Biofrontera
A hedge fund recently bought a new stake in Biofrontera stock. Rosalind Advisors Inc. purchased a new position in shares of Biofrontera Inc. (NASDAQ:BFRI – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 504,261 shares of the company’s stock, valued at approximately $777,000. Biofrontera comprises 0.7% of Rosalind Advisors Inc.’s holdings, making the stock its 27th biggest holding. Rosalind Advisors Inc. owned approximately 9.91% of Biofrontera at the end of the most recent reporting period. 10.08% of the stock is currently owned by hedge funds and other institutional investors.
Biofrontera Stock Performance
BFRI stock traded up $0.06 during midday trading on Friday, hitting $1.29. 253,916 shares of the company’s stock were exchanged, compared to its average volume of 363,096. The stock’s fifty day moving average price is $1.14 and its 200-day moving average price is $1.24. The company has a market cap of $7.15 million, a PE ratio of -0.10 and a beta of 0.46. Biofrontera has a one year low of $0.61 and a one year high of $9.52.
Wall Street Analysts Forecast Growth
Separately, Benchmark reissued a “buy” rating and issued a $7.00 target price on shares of Biofrontera in a research note on Friday, August 16th.
Get Our Latest Research Report on Biofrontera
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.
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