NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY – Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 1,409,131 shares changed hands during mid-day trading, an increase of 83% from the previous session’s volume of 769,528 shares.The stock last traded at $10.6540 and had previously closed at $7.39.
NovaBay Pharmaceuticals Trading Up 42.1%
The stock has a fifty day simple moving average of $2.51 and a two-hundred day simple moving average of $1.68. The company has a market cap of $1.32 billion, a PE ratio of -1.07 and a beta of 0.09.
Institutional Investors Weigh In On NovaBay Pharmaceuticals
Several institutional investors have recently made changes to their positions in the stock. Ground Swell Capital LLC acquired a new position in shares of NovaBay Pharmaceuticals during the 3rd quarter worth $25,000. Apollon Wealth Management LLC acquired a new stake in shares of NovaBay Pharmaceuticals in the third quarter valued at about $35,000. Finally, C2C Wealth Management LLC boosted its holdings in 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 buying an additional 43,000 shares in 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.
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