NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) Trading Up 13.2% – Time to Buy?

Shares of NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) rose 13.2% during mid-day trading on Friday . The company traded as high as $13.70 and last traded at $14.36. Approximately 375,761 shares changed hands during trading, a decline of 83% from the average daily volume of 2,190,110 shares. The stock had previously closed at $12.69.

NovaBay Pharmaceuticals Stock Performance

The stock has a 50 day moving average price of $4.18 and a 200 day moving average price of $2.27. The company has a market cap of $1.95 billion, a P/E ratio of -1.56 and a beta of 0.09.

Institutional Trading of NovaBay Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. C2C Wealth Management LLC increased its stake in shares of 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 purchasing an additional 43,000 shares during the last quarter. Apollon Wealth Management LLC bought a new position in NovaBay Pharmaceuticals in the third quarter worth $35,000. Finally, Ground Swell Capital LLC bought a new stake in NovaBay Pharmaceuticals in the 3rd quarter valued at $25,000. Institutional investors and hedge funds own 23.25% of the company’s stock.

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.