NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) Short Interest Update

NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) saw a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 333,120 shares, a decrease of 64.0% from the February 26th total of 926,133 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average trading volume of 388,359 shares, the short-interest ratio is currently 0.9 days.

Hedge Funds Weigh In On NovaBay Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in NovaBay Pharmaceuticals by 2,331.7% during the 4th quarter. Geode Capital Management LLC now owns 1,257,705 shares of the biopharmaceutical company’s stock valued at $7,098,000 after acquiring an additional 1,205,984 shares in the last quarter. State Street Corp raised its holdings in NovaBay Pharmaceuticals by 970.5% in the 4th quarter. State Street Corp now owns 313,703 shares of the biopharmaceutical company’s stock valued at $1,769,000 after acquiring an additional 284,400 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in NovaBay Pharmaceuticals in the 4th quarter worth approximately $588,000. Charles Schwab Investment Management Inc. purchased a new position in NovaBay Pharmaceuticals in the 4th quarter worth approximately $526,000. Finally, Jane Street Group LLC acquired a new position in shares of NovaBay Pharmaceuticals during the 4th quarter worth approximately $395,000. 23.25% of the stock is owned by hedge funds and other institutional investors.

NovaBay Pharmaceuticals Stock Performance

Shares of NBY stock traded up $0.11 on Thursday, reaching $1.53. 362,481 shares of the company were exchanged, compared to its average volume of 692,959. NovaBay Pharmaceuticals has a 1 year low of $1.11 and a 1 year high of $99.75. The business has a 50-day moving average price of $8.13 and a 200 day moving average price of $12.51. The company has a market cap of $40.73 million, a price-to-earnings ratio of -0.15 and a beta of 0.25.

NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) last issued its quarterly earnings results on Thursday, March 26th. The biopharmaceutical company reported ($7.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($7.40). As a group, equities analysts anticipate that NovaBay Pharmaceuticals will post -2.54 earnings per share for the current year.

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.