NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) Shares Up 5.9% – Time to Buy?

NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY)’s stock price was up 5.9% during trading on Wednesday . The stock traded as high as $4.75 and last traded at $4.8410. Approximately 67,449 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 2,098,606 shares. The stock had previously closed at $4.57.

NovaBay Pharmaceuticals Stock Up 2.3%

The firm has a market capitalization of $589.35 million, a price-to-earnings ratio of -0.46 and a beta of 0.57. The company has a 50-day moving average price of $1.61 and a 200-day moving average price of $1.32.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NBY. C2C Wealth Management LLC lifted its holdings in NovaBay Pharmaceuticals by 78.2% in the second quarter. C2C Wealth Management LLC now owns 98,000 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 43,000 shares during the period. Apollon Wealth Management LLC bought a new stake in shares of NovaBay Pharmaceuticals during the 3rd quarter worth about $35,000. Finally, Ground Swell Capital LLC bought a new stake in shares of NovaBay Pharmaceuticals during the 3rd quarter worth about $25,000. 23.25% of the stock is owned by institutional investors and hedge funds.

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.