Insider Selling: NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) Major Shareholder Sells 24,326 Shares of Stock

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NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) major shareholder Pharma (Hong Kong) Co Pioneer sold 24,326 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $4.04, for a total transaction of $98,277.04. Following the completion of the transaction, the insider now owns 5,188,421 shares of the company’s stock, valued at $20,961,220.84. The sale was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

NYSEAMERICAN NBY traded down $0.39 on Friday, hitting $1.68. 295,586 shares of the stock were exchanged, compared to its average volume of 1,268,729. NovaBay Pharmaceuticals, Inc. has a 52-week low of $0.23 and a 52-week high of $4.04.

NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) last released its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.12). The firm had revenue of $1.49 million during the quarter.

A number of analysts have recently weighed in on the stock. HC Wainwright downgraded shares of NovaBay Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $1.50 target price on the stock. in a research report on Wednesday, March 13th. Laidlaw cut shares of NovaBay Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Finally, Zacks Investment Research upgraded shares of NovaBay Pharmaceuticals from a “sell” rating to a “hold” rating and set a $1.50 price objective on the stock in a research note on Thursday, March 14th.

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About NovaBay Pharmaceuticals

NovaBay Pharmaceuticals, Inc, a biopharmaceutical company, develops, manufactures, and markets non-antibiotic and anti-infective products for the eye care market in the United States, China, and internationally. It offers Avenova, a prescription product for cleansing and removing foreign materials, including microorganisms and debris from skin around the eye; NeutroPhase for wound care market; CelleRx for the aesthetic dermatology market; Aganocide compounds patented synthetic molecules for use against bacteria, viruses, and fungi; auriclosene irrigation solution for urology; and intelli-Case, a device for soft and rigid gas permeable contact lenses.

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