NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) Sees Unusually-High Trading Volume – Time to Buy?

NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) shares saw unusually-high trading volume on Wednesday . Approximately 1,409,131 shares traded hands during mid-day trading, an increase of 83% from the previous session’s volume of 769,528 shares.The stock last traded at $10.6540 and had previously closed at $7.39.

NovaBay Pharmaceuticals Stock Up 102.5%

The company has a market capitalization of $2.41 billion, a PE ratio of -1.93 and a beta of 0.09. The firm has a 50-day moving average of $2.86 and a two-hundred day moving average of $1.79.

Institutional Investors Weigh In On NovaBay Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. Ground Swell Capital LLC acquired a new position in NovaBay Pharmaceuticals in the 3rd quarter worth about $25,000. Apollon Wealth Management LLC purchased a new stake in shares of NovaBay Pharmaceuticals in the third quarter valued at approximately $35,000. Finally, C2C Wealth Management LLC increased its position in shares of NovaBay Pharmaceuticals by 78.2% in the second quarter. C2C Wealth Management LLC now owns 98,000 shares of the biopharmaceutical company’s stock valued at $57,000 after buying an additional 43,000 shares in the last quarter. 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.