Biofrontera (NASDAQ:BFRI) Shares Down 1.7% – Here’s Why

Biofrontera Inc. (NASDAQ:BFRI)’s stock price dropped 1.7% during mid-day trading on Wednesday . The stock traded as low as $1.05 and last traded at $1.14. Approximately 594,075 shares traded hands during trading, an increase of 86% from the average session volume of 319,380 shares. The stock had previously closed at $1.16.

Analyst Ratings Changes

BFRI has been the subject of a number of research analyst reports. Zacks Research cut Biofrontera from a “hold” rating to a “strong sell” rating in a research note on Friday, July 3rd. Weiss Ratings lowered Biofrontera from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, Biofrontera currently has a consensus rating of “Reduce”.

Biofrontera Trading Down 1.7%

The stock has a 50-day moving average of $0.97 and a 200 day moving average of $0.91. The company has a quick ratio of 1.09, a current ratio of 1.20 and a debt-to-equity ratio of 0.78. The stock has a market cap of $14.59 million, a PE ratio of -1.18 and a beta of 0.81.

Biofrontera (NASDAQ:BFRI) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.29). Biofrontera had a negative return on equity of 515.34% and a negative net margin of 25.66%.The business had revenue of $10.08 million for the quarter, compared to analysts’ expectations of $10.25 million. As a group, sell-side analysts anticipate that Biofrontera Inc. will post -0.3 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Biofrontera stock. Rosalind Advisors Inc. raised its stake in shares of Biofrontera Inc. (NASDAQ:BFRI) by 51.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 976,448 shares of the company’s stock after buying an additional 332,055 shares during the period. Biofrontera comprises about 0.3% of Rosalind Advisors Inc.’s portfolio, making the stock its 27th largest holding. Rosalind Advisors Inc. owned 9.63% of Biofrontera worth $695,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 10.08% of the company’s stock.

About Biofrontera

Biofrontera AG is a specialty biopharmaceutical company focused on the research, development and commercialization of products for dermatological applications. The company’s core expertise lies in photodynamic therapy (PDT), a treatment modality that uses a photosensitizing agent activated by a specific light source to target diseased skin cells while sparing surrounding healthy tissue.

The flagship product in Biofrontera’s portfolio is Ameluz (aminolevulinic acid hydrochloride 10 % gel), which has received marketing approval in the European Union for treatment of actinic keratosis and basal cell carcinoma, and in the United States for actinic keratosis.