NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) Shares Gap Down – Here’s Why

Shares of NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) gapped down prior to trading on Monday . The stock had previously closed at $19.16, but opened at $17.32. NovaBay Pharmaceuticals shares last traded at $13.1690, with a volume of 1,131,061 shares changing hands.

NovaBay Pharmaceuticals Price Performance

The stock’s 50 day moving average is $3.22 and its two-hundred day moving average is $1.94. The stock has a market capitalization of $1.67 billion, a PE ratio of -1.30 and a beta of 0.09.

Institutional Trading of NovaBay Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. C2C Wealth Management LLC grew its stake in shares of NovaBay Pharmaceuticals by 78.2% in the 2nd quarter. C2C Wealth Management LLC now owns 98,000 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 43,000 shares during the last quarter. Apollon Wealth Management LLC purchased a new position in NovaBay Pharmaceuticals during the 3rd quarter worth $35,000. Finally, Ground Swell Capital LLC acquired a new stake in shares of NovaBay Pharmaceuticals in the 3rd quarter worth $25,000. 23.25% of the stock is currently owned by institutional investors and hedge funds.

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.