NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) Shares Set to Reverse Split on Monday, February 23rd

NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) shares are scheduled to reverse split on the morning of Monday, February 23rd. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, February 22nd.

NovaBay Pharmaceuticals Stock Down 19.6%

Shares of NBY opened at $0.43 on Thursday. The company has a 50-day moving average price of $5.09 and a two-hundred day moving average price of $2.68. The stock has a market cap of $56.28 million, a price-to-earnings ratio of -0.04 and a beta of 0.14. NovaBay Pharmaceuticals has a 12 month low of $0.43 and a 12 month high of $19.95.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings 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 purchasing an additional 1,205,984 shares in the last quarter. State Street Corp grew its holdings in shares of NovaBay Pharmaceuticals by 970.5% during the fourth quarter. State Street Corp now owns 313,703 shares of the biopharmaceutical company’s stock worth $1,769,000 after purchasing an additional 284,400 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of NovaBay Pharmaceuticals during the fourth quarter worth $588,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of NovaBay Pharmaceuticals in the fourth quarter valued at $526,000. Finally, Jane Street Group LLC bought a new position in shares of NovaBay Pharmaceuticals in the fourth quarter valued at about $395,000. 23.25% of the stock is owned by institutional investors and hedge funds.

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.