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

NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) shares reached a new 52-week high on Wednesday . The stock traded as high as $6.50 and last traded at $6.20, with a volume of 2172835 shares trading hands. The stock had previously closed at $4.86.

NovaBay Pharmaceuticals Stock Up 27.6%

The stock’s 50-day moving average price is $2.01 and its 200-day moving average price is $1.48. The company has a market capitalization of $781.26 million, a price-to-earnings ratio of -0.62 and a beta of 0.57.

Institutional Investors Weigh In On NovaBay Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in NBY. Ground Swell Capital LLC bought a new position in NovaBay Pharmaceuticals in the third quarter valued at about $25,000. Apollon Wealth Management LLC acquired a new position in NovaBay Pharmaceuticals during the 3rd quarter valued at about $35,000. Finally, C2C Wealth Management LLC lifted its position in NovaBay Pharmaceuticals by 78.2% during 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 period. Institutional investors 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.