Novelion Therapeutics Inc (NASDAQ:NVLN) Short Interest Up 44.1% in May

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Novelion Therapeutics Inc (NASDAQ:NVLN) (TSE:QLT) saw a significant growth in short interest in May. As of May 31st, there was short interest totalling 121,200 shares, a growth of 44.1% from the April 30th total of 84,100 shares. Based on an average daily trading volume, of 156,200 shares, the short-interest ratio is currently 0.8 days. Currently, 0.8% of the shares of the stock are short sold.

A hedge fund recently raised its stake in Novelion Therapeutics stock. Geode Capital Management LLC raised its holdings in Novelion Therapeutics Inc (NASDAQ:NVLN) (TSE:QLT) by 45.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,901 shares of the biotechnology company’s stock after purchasing an additional 26,003 shares during the quarter. Geode Capital Management LLC owned 0.44% of Novelion Therapeutics worth $71,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 37.05% of the company’s stock.

Shares of NASDAQ:NVLN traded down $0.01 during mid-day trading on Wednesday, reaching $0.85. The stock had a trading volume of 59,300 shares, compared to its average volume of 253,514. The company has a market capitalization of $16.41 million, a P/E ratio of -0.15 and a beta of 2.34. Novelion Therapeutics has a 1 year low of $0.70 and a 1 year high of $4.10.

Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last posted its earnings results on Tuesday, May 7th. The biotechnology company reported ($1.67) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($1.82). The company had revenue of $32.20 million during the quarter, compared to the consensus estimate of $58.10 million.

A number of research firms recently commented on NVLN. ValuEngine upgraded Novelion Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, May 22nd. Zacks Investment Research upgraded Novelion Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 21st.

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About Novelion Therapeutics

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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