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

NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY)’s share price gapped down before the market opened 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.

NovaBay Pharmaceuticals Price Performance

The stock’s 50-day moving average is $3.22 and its 200 day moving average is $1.94. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of -1.30 and a beta of 0.09.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. C2C Wealth Management LLC boosted its stake 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 buying an additional 43,000 shares during the last quarter. Apollon Wealth Management LLC purchased a new stake in shares of NovaBay Pharmaceuticals in the third quarter worth about $35,000. Finally, Ground Swell Capital LLC purchased a new position in NovaBay Pharmaceuticals in the 3rd quarter worth approximately $25,000. Hedge funds and other institutional investors own 23.25% of the company’s stock.

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.