NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY)’s share price dropped 10.2% during mid-day trading on Tuesday . The stock traded as low as $0.75 and last traded at $0.82, approximately 2,392,064 shares traded hands during mid-day trading. An increase of 91% from the average daily volume of 1,252,650 shares. The stock had previously closed at $0.91.

Separately, Zacks Investment Research downgraded shares of NovaBay Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th.

The company has a 50 day moving average price of $0.68.

A hedge fund recently raised its stake in NovaBay Pharmaceuticals stock. Virtu Financial LLC raised its position in NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) by 127.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,169 shares of the biopharmaceutical company’s stock after purchasing an additional 39,878 shares during the quarter. Virtu Financial LLC owned 0.26% of NovaBay Pharmaceuticals worth $46,000 as of its most recent SEC filing.

About NovaBay Pharmaceuticals (NYSEAMERICAN:NBY)

NovaBay Pharmaceuticals, Inc, a biopharmaceutical company, develops, manufactures, and markets non-antibiotic and anti-infective products for the eye care market in the United States, China, and internationally. It offers Avenova, a prescription product for cleansing and removing foreign materials, including microorganisms and debris from skin around the eye; NeutroPhase for wound care market; CelleRx for the aesthetic dermatology market; Aganocide compounds patented synthetic molecules for use against bacteria, viruses, and fungi; auriclosene irrigation solution for urology; and intelli-Case, a device for soft and rigid gas permeable contact lenses.

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