NovaBay Pharmaceuticals (NYSEAMERICAN:NBY) Reaches New 1-Year High – Still a Buy?

NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY)’s share price reached a new 52-week high during trading on Saturday . The company traded as high as $6.47 and last traded at $5.30, with a volume of 30793967 shares. The stock had previously closed at $2.95.

NovaBay Pharmaceuticals Stock Up 79.7%

The company has a market cap of $667.85 million, a P/E ratio of -0.53 and a beta of 0.57. The firm has a fifty day moving average price of $1.46 and a 200 day moving average price of $1.26.

NovaBay Pharmaceuticals Announces Dividend

The business also recently declared a dividend, which was paid on Monday, September 29th. Investors of record on Wednesday, October 1st were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a dividend yield of 3,791.0%.

Institutional Investors Weigh In On NovaBay Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ground Swell Capital LLC bought a new stake in shares of NovaBay Pharmaceuticals during the third quarter worth $25,000. Apollon Wealth Management LLC acquired a new stake in NovaBay Pharmaceuticals in the third quarter worth about $35,000. Finally, C2C Wealth Management LLC raised its holdings in NovaBay Pharmaceuticals by 78.2% during the 2nd quarter. C2C Wealth Management LLC now owns 98,000 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 43,000 shares during the last quarter. 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.