NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) Trading Up 13.2% – Here’s Why

NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY)’s stock price shot up 13.2% during mid-day trading on Friday . The stock traded as high as $13.70 and last traded at $14.36. 375,761 shares were traded during mid-day trading, a decline of 83% from the average session volume of 2,190,110 shares. The stock had previously closed at $12.69.

NovaBay Pharmaceuticals Stock Up 16.4%

The firm’s 50 day moving average price is $4.45 and its two-hundred day moving average price is $2.38. The firm has a market capitalization of $1.86 billion, a PE ratio of -1.48 and a beta of 0.09.

Hedge Funds Weigh In On NovaBay Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ground Swell Capital LLC bought a new stake in shares of NovaBay Pharmaceuticals in the third quarter worth $25,000. Apollon Wealth Management LLC acquired a new stake in shares of NovaBay Pharmaceuticals in the 3rd quarter valued at about $35,000. Finally, 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 during the last quarter. 23.25% of the stock is currently owned by hedge funds and other 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.