NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) Short Interest Up 106.1% in January

NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) was the target of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 2,701,762 shares, an increase of 106.1% from the January 15th total of 1,310,881 shares. Approximately 2.7% of the company’s shares are sold short. Based on an average daily volume of 2,306,602 shares, the short-interest ratio is currently 1.2 days. Based on an average daily volume of 2,306,602 shares, the short-interest ratio is currently 1.2 days. Approximately 2.7% of the company’s shares are sold short.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew 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 stake in NovaBay Pharmaceuticals by 970.5% during the 4th quarter. State Street Corp now owns 313,703 shares of the biopharmaceutical company’s stock valued at $1,769,000 after purchasing an additional 284,400 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in NovaBay Pharmaceuticals during the 4th quarter worth approximately $588,000. Charles Schwab Investment Management Inc. acquired a new position in shares of NovaBay Pharmaceuticals in the 4th quarter valued at approximately $526,000. Finally, Jane Street Group LLC purchased a new position in shares of NovaBay Pharmaceuticals during the 4th quarter valued at approximately $395,000. 23.25% of the stock is owned by institutional investors and hedge funds.

NovaBay Pharmaceuticals Stock Performance

NYSEAMERICAN NBY traded down $0.06 during trading hours on Friday, hitting $0.52. 2,021,528 shares of the company’s stock were exchanged, compared to its average volume of 1,897,860. The business’s 50 day moving average is $5.17 and its 200-day moving average is $2.69. NovaBay Pharmaceuticals has a 12-month low of $0.46 and a 12-month high of $19.95. The firm has a market capitalization of $67.40 million, a P/E ratio of -0.05 and a beta of 0.14.

Shares of NovaBay Pharmaceuticals 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 market closes on Sunday, February 22nd.

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.