Novelion Therapeutics (NASDAQ:NVLN) Trading Down 2.3%

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Novelion Therapeutics Inc (NASDAQ:NVLN) (TSE:QLT) traded down 2.3% during mid-day trading on Friday . The company traded as low as $0.84 and last traded at $0.84. 20,109 shares were traded during mid-day trading, a decline of 90% from the average session volume of 195,928 shares. The stock had previously closed at $0.86.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Novelion Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 21st. ValuEngine raised shares of Novelion Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, May 22nd.

The stock has a market capitalization of $15.99 million, a PE ratio of -0.15 and a beta of 2.34.

Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last issued its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($1.67) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($1.82). The business had revenue of $32.20 million for the quarter, compared to analyst estimates of $58.10 million.

Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Novelion Therapeutics by 45.7% during the 4th quarter. Geode Capital Management LLC now owns 82,901 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 26,003 shares during the period. EdgePoint Investment Group Inc. grew its position in shares of Novelion Therapeutics by 2.2% during the 1st quarter. EdgePoint Investment Group Inc. now owns 2,421,259 shares of the biotechnology company’s stock valued at $2,978,000 after acquiring an additional 52,440 shares during the period. Finally, Highbridge Capital Management LLC bought a new position in shares of Novelion Therapeutics during the 4th quarter valued at approximately $795,000. 37.05% of the stock is owned by hedge funds and other institutional investors.

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Novelion Therapeutics Company Profile (NASDAQ:NVLN)

Novelion Therapeutics Inc, a biopharmaceutical company, develops a portfolio of therapies for individuals living with rare diseases in the United States, Brazil, and internationally. The company's commercial products include lomitapide hard capsule for the treatment of homozygous familial hypercholesterolemia in adults under the JUXTAPID and LOJUXTA brands; and metreleptin, a recombinant analogue of human leptin, which is indicated as an adjunct to diet as replacement therapy to treat the complications of leptin deficiency in patients with congenital or acquired generalized lipodystrophy under the MYALEPT brand.

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