Novelion Therapeutics Inc. (NASDAQ:NVLN) (TSE:QLT) shares hit a new 52-week low on Tuesday . The company traded as low as $3.54 and last traded at $3.79, with a volume of 321600 shares changing hands. The stock had previously closed at $3.92.

A number of research analysts have weighed in on NVLN shares. Zacks Investment Research cut shares of Novelion Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, November 17th. Royal Bank Of Canada reduced their price target on shares of Novelion Therapeutics from $9.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Friday, November 10th. Finally, ValuEngine cut shares of Novelion Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 12th.

The company has a debt-to-equity ratio of 6.53, a current ratio of 1.45 and a quick ratio of 1.28.

A number of hedge funds have recently made changes to their positions in NVLN. State of Wisconsin Investment Board acquired a new position in Novelion Therapeutics during the second quarter valued at approximately $102,000. JPMorgan Chase & Co. lifted its position in Novelion Therapeutics by 167.2% during the first quarter. JPMorgan Chase & Co. now owns 10,292 shares of the biotechnology company’s stock valued at $110,000 after buying an additional 6,440 shares in the last quarter. Franklin Resources Inc. lifted its position in Novelion Therapeutics by 4.2% during the second quarter. Franklin Resources Inc. now owns 12,798 shares of the biotechnology company’s stock valued at $118,000 after buying an additional 511 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Novelion Therapeutics by 8,096.0% during the second quarter. The Manufacturers Life Insurance Company now owns 14,179 shares of the biotechnology company’s stock valued at $130,000 after buying an additional 14,006 shares in the last quarter. Finally, Rhumbline Advisers acquired a new position in shares of Novelion Therapeutics during the second quarter worth $146,000. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

WARNING: “Novelion Therapeutics (NVLN) Reaches New 12-Month Low at $3.54” was originally posted by Watch List News and is owned by of Watch List News. If you are accessing this piece on another publication, it was stolen and republished in violation of United States & international trademark and copyright laws. The correct version of this piece can be read at https://www.watchlistnews.com/novelion-therapeutics-nvln-reaches-new-12-month-low-at-3-54/1745798.html.

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.

Receive News & Ratings for Novelion Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Novelion Therapeutics Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.