NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) Stock Price Down 14.3% – Time to Sell?

Shares of NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) dropped 14.3% on Wednesday . The stock traded as low as $5.53 and last traded at $5.5680. Approximately 471,801 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 2,334,171 shares. The stock had previously closed at $6.50.

NovaBay Pharmaceuticals Stock Down 14.1%

The company’s fifty day moving average price is $5.02 and its 200-day moving average price is $2.58. The stock has a market capitalization of $593.51 million, a PE ratio of -0.47 and a beta of 0.09.

Institutional Trading of NovaBay Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. C2C Wealth Management LLC raised its holdings in NovaBay Pharmaceuticals by 78.2% in the 2nd 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 position in shares of NovaBay Pharmaceuticals during the 3rd quarter valued at approximately $35,000. Finally, Ground Swell Capital LLC purchased a new stake in NovaBay Pharmaceuticals in the 3rd quarter worth approximately $25,000. 23.25% of the stock is currently owned by 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.