NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) Stock Price Down 13.5% – Here’s Why

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

NovaBay Pharmaceuticals Price Performance

The stock has a market cap of $2.41 billion, a P/E ratio of -1.93 and a beta of 0.09. The firm’s fifty day moving average price is $3.22 and its two-hundred day moving average price is $1.92.

Institutional Investors Weigh In On NovaBay Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. 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 worth $35,000. Finally, C2C Wealth Management LLC increased 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 acquiring an additional 43,000 shares during the last quarter. 23.25% of the stock is currently owned by institutional investors.

About NovaBay Pharmaceuticals

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.