Biofrontera (NASDAQ:BFRI) Stock Price Down 3.5% – Time to Sell?

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

Wall Street Analysts Forecast Growth

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

Biofrontera Stock Performance

The business’s fifty day moving average price is $1.09 and its two-hundred day moving average price is $1.06. The firm has a market capitalization of $8.60 million, a P/E ratio of -0.49 and a beta of 0.29.

Hedge Funds Weigh In On Biofrontera

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in shares of Biofrontera during the fourth quarter valued at about $48,000. AIGH Capital Management LLC increased its stake in Biofrontera by 61.8% during the 4th quarter. AIGH Capital Management LLC now owns 811,097 shares of the company’s stock valued at $884,000 after purchasing an additional 309,663 shares in the last quarter. Finally, Rosalind Advisors Inc. raised its holdings in shares of Biofrontera by 63.9% in the fourth 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 last quarter. 10.08% of the stock is owned by hedge funds and other institutional investors.

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.