Short Interest in Novelion Therapeutics Inc (NASDAQ:NVLN) Drops By 28.6%
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.
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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