NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) Reaches New 52-Week High – Here’s What Happened
by Michael Walen · The Markets DailyNovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $6.50 and last traded at $6.20, with a volume of 2172835 shares. The stock had previously closed at $4.86.
NovaBay Pharmaceuticals Trading Down 9.0%
The firm has a market capitalization of $710.70 million, a P/E ratio of -0.57 and a beta of 0.05. The stock has a 50-day simple moving average of $2.18 and a two-hundred day simple moving average of $1.54.
Institutional Trading of NovaBay Pharmaceuticals
Several hedge funds and other institutional investors have recently bought and sold shares of NBY. Ground Swell Capital LLC bought a new position in shares of NovaBay Pharmaceuticals in the 3rd quarter worth $25,000. Apollon Wealth Management LLC purchased a new position in NovaBay Pharmaceuticals in the third quarter valued at about $35,000. Finally, C2C Wealth Management LLC grew its stake in NovaBay Pharmaceuticals by 78.2% in the second quarter. C2C Wealth Management LLC now owns 98,000 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 43,000 shares during the last quarter. Institutional investors 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.