NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) Trading Down 13.5% – What’s Next?

NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) shares were down 13.5% during mid-day trading on Thursday . The company traded as low as $9.00 and last traded at $9.2050. Approximately 688,797 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 1,190,304 shares. The stock had previously closed at $10.64.

NovaBay Pharmaceuticals Stock Down 19.6%

The stock’s 50-day moving average is $2.70 and its 200-day moving average is $1.74. The firm has a market cap of $1.08 billion, a P/E ratio of -0.86 and a beta of 0.09.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NBY. Ground Swell Capital LLC bought a new stake in shares of NovaBay Pharmaceuticals in the third quarter worth about $25,000. Apollon Wealth Management LLC acquired a new stake in NovaBay Pharmaceuticals during the 3rd quarter worth approximately $35,000. Finally, C2C Wealth Management LLC raised its holdings in NovaBay Pharmaceuticals by 78.2% during the 2nd quarter. C2C Wealth Management LLC now owns 98,000 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 43,000 shares during the period. 23.25% of the stock is currently owned by institutional investors.

NovaBay Pharmaceuticals Company Profile

NovaBay Pharmaceuticals, Inc is a clinical-stage biotechnology company focused on developing and commercializing novel, non-antibiotic anti-infective products designed to regulate the innate immune response. Leveraging its proprietary Aganocide® Technology, the company’s synthetic antimicrobial compounds target and neutralize pathogens without contributing to antibiotic resistance. NovaBay’s research and development efforts concentrate on ophthalmic, dermatological and wound care applications, aiming to address unmet needs in infection control and inflammation management.

The company’s primary commercial products include Avenova®, an eyelid and lash cleaning solution indicated for managing chronic blepharitis and meibomian gland dysfunction, and NeutroPhase®, a pure hypochlorous acid wound and skin cleanser used in acute and chronic wound irrigation.