Novabay Pharmaceuticals (NBY) plunges 15.84% in pre-market trading after sharp drop from prior close.

Dec 24, 2025 – Novabay Pharmaceuticals (NBY) plunged 15.8379% in pre-market trading after opening at $4.78, marking a significant drop from its previous close of $5.43.

Recent institutional activity highlights shifting investor sentiment. C2C Wealth Management LLC increased its stake by 78.2% in Q2, while Apollon Wealth Management and Ground Swell Capital initiated new positions in Q3. Despite these additions, the stock’s decline suggests broader market concerns, potentially linked to its high beta of 0.57 and a negative P/E ratio of -0.46.

Novabay’s focus on non-antibiotic anti-infective therapies, including Avenova and NeutroPhase, positions it in a niche market. However, the company’s reliance on clinical-stage development and limited commercial revenue streams may heighten volatility. Institutional ownership at 23.25% indicates concentrated stakes, which could amplify price swings during earnings or regulatory updates.

The stock’s 50-day and 200-day moving averages of $1.54 and $1.29, respectively, underscore its underperformance relative to historical trends. With a market cap of $574.61 million, Novabay remains a speculative play for investors targeting innovation in infection control, though near-term momentum appears fragile.