NovaBay Pharmaceuticals Stock Scheduled to Reverse Split on Monday, February 23rd (NYSEAMERICAN:NBY)

Shares of NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) are scheduled to reverse split before the market opens on Monday, February 23rd. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, February 22nd.

NovaBay Pharmaceuticals Stock Down 10.5%

NBY stock opened at $0.52 on Friday. The stock has a market cap of $67.40 million, a price-to-earnings ratio of -0.05 and a beta of 0.14. NovaBay Pharmaceuticals has a fifty-two week low of $0.46 and a fifty-two week high of $19.95. The business has a 50 day moving average price of $5.17 and a 200 day moving average price of $2.69.

Hedge Funds Weigh In On NovaBay Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. acquired a new stake in shares of NovaBay Pharmaceuticals during the 4th quarter worth approximately $526,000. State Street Corp grew its position in shares of NovaBay Pharmaceuticals by 970.5% during the fourth quarter. State Street Corp now owns 313,703 shares of the biopharmaceutical company’s stock worth $1,769,000 after acquiring an additional 284,400 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of NovaBay Pharmaceuticals in the 4th quarter worth about $395,000. Goldman Sachs Group Inc. bought a new stake in NovaBay Pharmaceuticals in the 4th quarter valued at about $588,000. Finally, Geode Capital Management LLC grew its position in NovaBay Pharmaceuticals by 2,331.7% in the 4th quarter. Geode Capital Management LLC now owns 1,257,705 shares of the biopharmaceutical company’s stock worth $7,098,000 after purchasing an additional 1,205,984 shares during the last quarter. 23.25% of the stock is 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.