NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) Hits New 12-Month High – Here’s What Happened

Shares of NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) hit a new 52-week high on Tuesday . The stock traded as high as $7.30 and last traded at $6.75, with a volume of 937413 shares traded. The stock had previously closed at $5.87.

NovaBay Pharmaceuticals Price Performance

The stock has a market cap of $850.57 million, a P/E ratio of -0.68 and a beta of 0.09. The stock has a 50-day simple moving average of $2.39 and a 200-day simple moving average of $1.63.

Hedge Funds Weigh In On NovaBay Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in NBY. C2C Wealth Management LLC grew its stake 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 buying an additional 43,000 shares during the last quarter. Apollon Wealth Management LLC bought a new position in shares of NovaBay Pharmaceuticals in the 3rd quarter valued at $35,000. Finally, Ground Swell Capital LLC acquired a new stake in shares of NovaBay Pharmaceuticals during the 3rd quarter valued at $25,000. Institutional investors own 23.25% of the company’s stock.

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.