NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) Stock Passes Below 50-Day Moving Average – Here’s What Happened

NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $5.18 and traded as low as $1.82. NovaBay Pharmaceuticals shares last traded at $2.00, with a volume of 2,838,856 shares changing hands.

NovaBay Pharmaceuticals Trading Down 15.6%

The firm’s 50-day moving average price is $5.18 and its two-hundred day moving average price is $2.66. The stock has a market cap of $252.02 million, a PE ratio of -0.20 and a beta of 0.09.

Institutional Investors Weigh In On NovaBay Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Apollon Wealth Management LLC bought a new stake in NovaBay Pharmaceuticals during the third quarter valued at about $35,000. Ground Swell Capital LLC bought a new position in NovaBay Pharmaceuticals in the third quarter worth about $25,000. Finally, C2C Wealth Management LLC purchased a new stake in shares of NovaBay Pharmaceuticals during the fourth quarter valued at about $254,000. 23.25% of the stock is currently owned by hedge funds and other institutional investors.

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.