Broadfin Capital LLC acquired a new position in shares of Novelion Therapeutics Inc. (NASDAQ:NVLN) (TSE:QLT) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 1,948,554 shares of the company’s stock, valued at approximately $16,407,000. Novelion Therapeutics accounts for about 1.8% of Broadfin Capital LLC’s portfolio, making the stock its 16th largest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Knott David M bought a new position in shares of Novelion Therapeutics during the fourth quarter worth about $919,000. Renaissance Technologies LLC acquired a new position in Novelion Therapeutics during the fourth quarter valued at $2,803,000. FMR LLC acquired a new position in Novelion Therapeutics during the fourth quarter valued at $5,164,000. Finally, Stonepine Capital Management LLC acquired a new position in Novelion Therapeutics during the fourth quarter valued at $12,832,000.

Institutional Ownership by Quarter for Novelion Therapeutics (NASDAQ:NVLN)

Novelion Therapeutics Inc. (NASDAQ:NVLN) traded down 1.55% on Thursday, reaching $10.83. The company’s stock had a trading volume of 75,714 shares. Novelion Therapeutics Inc. has a 12-month low of $1.22 and a 12-month high of $11.11. The firm has a 50-day moving average of $9.52 and a 200 day moving average of $3.97.

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NVLN has been the subject of several recent analyst reports. Zacks Investment Research upgraded Novelion Therapeutics from a “hold” rating to a “buy” rating and set a $2.00 price target for the company in a research note on Tuesday, November 22nd. RBC Capital Markets dropped their price target on Novelion Therapeutics from $13.50 to $10.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 7th. Finally, Royal Bank Of Canada dropped their price target on Novelion Therapeutics from $13.50 to $10.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 7th.

About Novelion Therapeutics

Novelion Therapeutics Inc, formerly QLT Inc, is a Canada-based biopharmaceutical company. The Company is engaged in development of new standards of care for individuals living with rare diseases. The Company is focused on advancing its portfolio of rare disease therapies by investing in science and clinical development.

5 Day Chart for NASDAQ:NVLN

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