NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) Stock Price Down 8.3% – What’s Next?

NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY)’s share price fell 8.3% on Wednesday . The stock traded as low as $11.55 and last traded at $11.9580. 163,800 shares changed hands during trading, a decline of 93% from the average session volume of 2,440,812 shares. The stock had previously closed at $13.04.

NovaBay Pharmaceuticals Price Performance

The company’s 50 day simple moving average is $4.18 and its 200 day simple moving average is $2.27. The stock has a market cap of $1.86 billion, a P/E ratio of -1.48 and a beta of 0.09.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. C2C Wealth Management LLC lifted its position in shares of NovaBay Pharmaceuticals by 78.2% during the 2nd quarter. C2C Wealth Management LLC now owns 98,000 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 43,000 shares during the last quarter. Apollon Wealth Management LLC acquired a new stake in NovaBay Pharmaceuticals during the 3rd quarter worth about $35,000. Finally, Ground Swell Capital LLC bought a new stake in NovaBay Pharmaceuticals in the third quarter worth approximately $25,000. 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.