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

Biofrontera Inc. (NASDAQ:BFRIGet Free Report) was the target of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 84,200 shares, a decline of 23.7% from the February 29th total of 110,300 shares. Based on an average daily volume of 746,500 shares, the days-to-cover ratio is currently 0.1 days. Approximately 6.1% of the company’s stock are short sold.

Institutional Investors Weigh In On Biofrontera

Large investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Biofrontera by 894.0% during the first quarter. BlackRock Inc. now owns 100,505 shares of the company’s stock valued at $335,000 after purchasing an additional 90,394 shares during the period. Northern Trust Corp acquired a new position in Biofrontera during the second quarter valued at $39,000. Renaissance Technologies LLC lifted its position in Biofrontera by 41.1% during the second quarter. Renaissance Technologies LLC now owns 50,434 shares of the company’s stock valued at $26,000 after purchasing an additional 14,700 shares during the period. State Street Corp acquired a new position in Biofrontera during the first quarter valued at $49,000. Finally, XTX Topco Ltd acquired a new position in shares of Biofrontera in the first quarter worth about $48,000. 10.08% of the stock is owned by hedge funds and other institutional investors.

Biofrontera Price Performance

Shares of BFRI opened at $1.54 on Friday. The firm has a market capitalization of $7.84 million, a PE ratio of -0.10 and a beta of 0.54. Biofrontera has a 1-year low of $0.61 and a 1-year high of $13.48. The company’s fifty day moving average price is $1.12 and its 200-day moving average price is $3.42.

About Biofrontera

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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.

Further Reading

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