Novelion Therapeutics (NVLN) Shares Gap Up to $1.30
Shares of Novelion Therapeutics Inc (NASDAQ:NVLN) (TSE:QLT) gapped up before the market opened on Thursday . The stock had previously closed at $1.20, but opened at $1.30. Novelion Therapeutics shares last traded at $1.21, with a volume of 30202 shares changing hands.
NVLN has been the topic of a number of research analyst reports. Royal Bank of Canada cut their price target on shares of Novelion Therapeutics from $6.00 to $5.00 and set a “hold” rating on the stock in a research report on Thursday, August 9th. Zacks Investment Research lowered shares of Novelion Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, August 14th. ValuEngine upgraded shares of Novelion Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Finally, Bloom Burton lowered shares of Novelion Therapeutics from an “accumulate” rating to a “hold” rating in a research note on Wednesday, November 14th.
The company has a market capitalization of $24.61 million, a PE ratio of -0.19 and a beta of 1.87.
Several institutional investors and hedge funds have recently made changes to their positions in NVLN. LMR Partners LLP bought a new stake in Novelion Therapeutics during the second quarter valued at $190,000. Healthcare Value Capital LLC boosted its position in Novelion Therapeutics by 31.3% during the second quarter. Healthcare Value Capital LLC now owns 1,313,387 shares of the biotechnology company’s stock valued at $4,833,000 after acquiring an additional 313,387 shares during the last quarter. Millennium Management LLC boosted its position in Novelion Therapeutics by 838.0% during the second quarter. Millennium Management LLC now owns 330,677 shares of the biotechnology company’s stock valued at $1,217,000 after acquiring an additional 295,423 shares during the last quarter. Context Partners Fund L.P. bought a new stake in Novelion Therapeutics during the third quarter valued at $189,000. Finally, Prosight Management LP boosted its position in Novelion Therapeutics by 128.1% during the third quarter. Prosight Management LP now owns 444,068 shares of the biotechnology company’s stock valued at $1,314,000 after acquiring an additional 249,405 shares during the last quarter. 70.55% of the stock is currently owned by hedge funds and other institutional investors.
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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