NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) Issues Quarterly Earnings Results, Misses Estimates By $7.40 EPS

NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) released its earnings results on Thursday. The biopharmaceutical company reported ($7.60) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($7.40), FiscalAI reports.

NovaBay Pharmaceuticals Stock Down 4.7%

Shares of NBY stock traded down $0.06 during trading hours on Thursday, hitting $1.22. 248,965 shares of the company were exchanged, compared to its average volume of 549,805. The firm has a market cap of $31.62 million, a PE ratio of -0.12 and a beta of 0.25. NovaBay Pharmaceuticals has a 1 year low of $1.11 and a 1 year high of $99.75. The firm has a fifty day moving average of $16.02 and a 200 day moving average of $13.05.

Hedge Funds Weigh In On NovaBay Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of NBY. ExodusPoint Capital Management LP purchased a new stake in NovaBay Pharmaceuticals during the fourth quarter valued at about $114,000. OMERS ADMINISTRATION Corp acquired a new position in shares of NovaBay Pharmaceuticals in the 4th quarter valued at about $120,000. Charles Schwab Investment Management Inc. acquired a new position in shares of NovaBay Pharmaceuticals in the 4th quarter valued at about $526,000. State Street Corp grew its holdings in shares of NovaBay Pharmaceuticals by 970.5% during the 4th quarter. State Street Corp now owns 313,703 shares of the biopharmaceutical company’s stock worth $1,769,000 after purchasing an additional 284,400 shares during the period. Finally, Jane Street Group LLC acquired a new stake in NovaBay Pharmaceuticals during the 4th quarter worth approximately $395,000. Institutional investors and hedge funds own 23.25% of the company’s stock.

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.