Biofrontera (NASDAQ:BFRI) Trading Down 3.5% – What’s Next?

Biofrontera Inc. (NASDAQ:BFRI)’s share price dropped 3.5% during mid-day trading on Friday . The stock traded as low as $1.09 and last traded at $1.11. Approximately 59,963 shares were traded during trading, a decline of 90% from the average daily volume of 604,234 shares. The stock had previously closed at $1.15.

Analyst Upgrades and Downgrades

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

Biofrontera Trading Down 3.5 %

The stock has a market cap of $8.60 million, a P/E ratio of -0.49 and a beta of 0.29. The firm has a 50-day simple moving average of $1.09 and a two-hundred day simple moving average of $1.06.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in Biofrontera during the 4th quarter worth $48,000. AIGH Capital Management LLC increased its position in Biofrontera by 61.8% during the 4th quarter. AIGH Capital Management LLC now owns 811,097 shares of the company’s stock worth $884,000 after buying an additional 309,663 shares during the period. Finally, Rosalind Advisors Inc. increased its position in Biofrontera by 63.9% during the 4th quarter. Rosalind Advisors Inc. now owns 811,918 shares of the company’s stock worth $885,000 after buying an additional 316,428 shares during the period. Institutional investors own 10.08% of the company’s stock.

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.