Novelion Therapeutics Inc (NASDAQ:NVLN) (TSE:QLT) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 100,300 shares, a decrease of 28.6% from the July 31st total of 140,400 shares. Based on an average trading volume of 57,800 shares, the short-interest ratio is presently 1.7 days. Approximately 0.7% of the company’s stock are sold short.

Shares of NASDAQ:NVLN traded up $0.06 during trading on Friday, hitting $0.80. The stock had a trading volume of 129,098 shares, compared to its average volume of 188,701. Novelion Therapeutics has a 12 month low of $0.60 and a 12 month high of $4.05. The firm’s fifty day moving average is $0.67 and its 200 day moving average is $0.97.

Several brokerages have recently issued reports on NVLN. ValuEngine raised Novelion Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Zacks Investment Research raised Novelion Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 21st.

Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of Novelion Therapeutics by 45.7% during the fourth quarter. Geode Capital Management LLC now owns 82,901 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 26,003 shares in the last quarter. EdgePoint Investment Group Inc. increased its position in shares of Novelion Therapeutics by 16.9% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,831,555 shares of the biotechnology company’s stock valued at $2,209,000 after acquiring an additional 410,296 shares during the period. Finally, Stonepine Capital Management LLC acquired a new position in shares of Novelion Therapeutics in the 2nd quarter valued at $383,000. 36.04% of the stock is owned by hedge funds and other institutional investors.

Novelion Therapeutics Company Profile

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.

Further Reading: Diluted Earnings Per Share

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