NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) Shares Cross Below Fifty Day Moving Average – Time to Sell?

NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $24.48 and traded as low as $1.55. NovaBay Pharmaceuticals shares last traded at $1.65, with a volume of 1,090,126 shares.

NovaBay Pharmaceuticals Trading Down 21.4%

The firm has a market cap of $42.77 million, a price-to-earnings ratio of -0.17 and a beta of 0.14. The stock has a 50-day moving average of $24.48 and a 200-day moving average of $13.48.

Institutional Trading of NovaBay Pharmaceuticals

Several hedge funds have recently bought and sold shares of the company. Apollon Wealth Management LLC acquired a new position in NovaBay Pharmaceuticals during the 3rd quarter valued at about $35,000. Ground Swell Capital LLC bought a new stake in shares of NovaBay Pharmaceuticals during the third quarter valued at approximately $25,000. C2C Wealth Management LLC bought a new stake in shares of NovaBay Pharmaceuticals during the fourth quarter valued at approximately $254,000. Geode Capital Management LLC boosted its position in shares of NovaBay Pharmaceuticals by 2,331.7% during the fourth quarter. Geode Capital Management LLC now owns 1,257,705 shares of the biopharmaceutical company’s stock worth $7,098,000 after buying an additional 1,205,984 shares during the period. Finally, Goldman Sachs Group Inc. bought a new position in NovaBay Pharmaceuticals in the 4th quarter worth approximately $588,000. 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.