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

Biofrontera Inc. (NASDAQ:BFRI) was the recipient of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 316,600 shares, a drop of 30.7% from the October 31st total of 457,100 shares. Currently, 7.8% of the shares of the company are sold short. Based on an average trading volume of 2,780,000 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Ratings Changes

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

Biofrontera Price Performance

Shares of Biofrontera stock traded down $0.09 on Friday, hitting $0.90. The company had a trading volume of 449,557 shares, compared to its average volume of 1,042,479. Biofrontera has a 52 week low of $0.61 and a 52 week high of $4.00. The company has a market cap of $6.98 million, a PE ratio of -0.40 and a beta of 0.50. The business has a 50-day simple moving average of $0.94 and a 200-day simple moving average of $1.04.

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.