NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) Shares Gap Down – Should You Sell?

NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) 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 Price Performance

The firm has a 50 day moving average price of $1.91 and a 200-day moving average price of $1.44. The firm has a market cap of $696.33 million, a price-to-earnings ratio of -0.56 and a beta of 0.57.

Institutional Investors Weigh In On NovaBay Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of NBY. Ground Swell Capital LLC bought a new position in NovaBay Pharmaceuticals in the third quarter valued at approximately $25,000. Apollon Wealth Management LLC acquired a new position in shares of NovaBay Pharmaceuticals in the 3rd quarter valued at $35,000. Finally, C2C Wealth Management LLC boosted its position in shares of NovaBay Pharmaceuticals by 78.2% in 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. 23.25% of the stock is owned by institutional investors.

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.