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

Shares of NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) are going to reverse split before the market opens on 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 Performance

Shares of NYSEAMERICAN:NBY opened at $0.52 on Friday. The stock has a market capitalization of $67.40 million, a price-to-earnings ratio of -0.05 and a beta of 0.14. NovaBay Pharmaceuticals has a 1-year low of $0.46 and a 1-year high of $19.95. The company has a 50 day moving average price of $5.17 and a 200 day moving average price of $2.69.

Hedge Funds Weigh In On NovaBay Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ground Swell Capital LLC purchased a new position in NovaBay Pharmaceuticals during the 3rd quarter worth approximately $25,000. Apollon Wealth Management LLC acquired a new stake in shares of NovaBay Pharmaceuticals in the third quarter worth $35,000. C2C Wealth Management LLC purchased a new position in shares of NovaBay Pharmaceuticals during the fourth quarter valued at $254,000. Jane Street Group LLC acquired a new position in NovaBay Pharmaceuticals during the fourth quarter valued at $395,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in NovaBay Pharmaceuticals in the 4th quarter worth about $526,000. Institutional investors and hedge funds 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.