NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) Shares Gap Down – What’s Next?

by · The Cerbat Gem

NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY – Get Free Report)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $4.86, but opened at $4.69. NovaBay Pharmaceuticals shares last traded at $5.4240, with a volume of 57,364 shares trading hands.

NovaBay Pharmaceuticals Trading Up 13.7%

The stock has a market cap of $696.33 million, a P/E ratio of -0.56 and a beta of 0.57. The firm’s fifty day moving average is $1.91 and its 200 day moving average is $1.44.

Institutional Investors Weigh In On NovaBay Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. C2C Wealth Management LLC lifted its position in shares of NovaBay Pharmaceuticals by 78.2% during the second 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 in the last quarter. Apollon Wealth Management LLC bought a new position in NovaBay Pharmaceuticals in the 3rd quarter worth approximately $35,000. Finally, Ground Swell Capital LLC bought a new position in NovaBay Pharmaceuticals in the 3rd quarter worth approximately $25,000. Institutional investors own 23.25% of the company’s stock.

NovaBay Pharmaceuticals Company Profile

(Get Free Report)

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.

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