NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) Announces Quarterly Earnings Results

NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) announced its quarterly earnings results on Thursday. The biopharmaceutical company reported ($7.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($7.40), FiscalAI reports.

NovaBay Pharmaceuticals Stock Performance

Shares of NBY stock traded down $0.06 on Thursday, reaching $1.22. The stock had a trading volume of 248,965 shares, compared to its average volume of 778,382. NovaBay Pharmaceuticals has a 1 year low of $1.11 and a 1 year high of $99.75. The company has a 50 day simple moving average of $16.02 and a 200 day simple moving average of $13.05.

Hedge Funds Weigh In On NovaBay Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in NBY. ExodusPoint Capital Management LP purchased a new stake in shares of NovaBay Pharmaceuticals in the fourth quarter worth approximately $114,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of NovaBay Pharmaceuticals in the fourth quarter valued at approximately $120,000. Jane Street Group LLC bought a new stake in NovaBay Pharmaceuticals during the 4th quarter valued at $395,000. Charles Schwab Investment Management Inc. bought a new position in shares of NovaBay Pharmaceuticals during the fourth quarter valued at approximately $526,000. Finally, Goldman Sachs Group Inc. bought a new stake in NovaBay Pharmaceuticals during the 4th quarter valued at $588,000. 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.