NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) Sees Large Increase in Short Interest

NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 1,361,975 shares, a growth of 339.8% from the December 15th total of 309,674 shares. Based on an average daily volume of 3,774,996 shares, the short-interest ratio is presently 0.4 days. Approximately 1.4% of the company’s shares are short sold. Approximately 1.4% of the company’s shares are short sold. Based on an average daily volume of 3,774,996 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On NovaBay Pharmaceuticals

Large investors have recently modified their holdings of the company. C2C Wealth Management LLC lifted its stake in shares of NovaBay Pharmaceuticals by 78.2% in the 2nd quarter. C2C Wealth Management LLC now owns 98,000 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 43,000 shares in the last quarter. Apollon Wealth Management LLC purchased a new position in NovaBay Pharmaceuticals in the third quarter valued at approximately $35,000. Finally, Ground Swell Capital LLC acquired a new position in NovaBay Pharmaceuticals during the third quarter valued at approximately $25,000. 23.25% of the stock is currently owned by hedge funds and other institutional investors.

NovaBay Pharmaceuticals Trading Down 14.5%

Shares of NBY traded down $1.95 during mid-day trading on Tuesday, reaching $11.51. The company had a trading volume of 912,741 shares, compared to its average volume of 2,668,517. NovaBay Pharmaceuticals has a fifty-two week low of $0.46 and a fifty-two week high of $19.95. The firm has a fifty day simple moving average of $3.47 and a 200-day simple moving average of $2.03. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -1.16 and a beta of 0.09.

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.