Novelion Therapeutics Inc (NASDAQ:NVLN) Sees Large Growth in Short Interest

Novelion Therapeutics Inc (NASDAQ:NVLN) (TSE:QLT) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 131,100 shares, an increase of 8.2% from the May 15th total of 121,200 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 127,900 shares, the short-interest ratio is presently 1.0 days.

NASDAQ NVLN traded up $0.03 on Friday, hitting $0.69. 36,788 shares of the stock were exchanged, compared to its average volume of 37,121. The business has a fifty day moving average price of $0.81. Novelion Therapeutics has a 52-week low of $0.61 and a 52-week high of $4.09.

Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last posted its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($1.67) EPS for the quarter, missing the consensus estimate of $0.15 by ($1.82). The business had revenue of $32.20 million for the quarter, compared to the consensus estimate of $58.10 million.

An institutional investor recently raised its position in Novelion Therapeutics stock. Geode Capital Management LLC increased its position in Novelion Therapeutics Inc (NASDAQ:NVLN) (TSE:QLT) by 45.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 82,901 shares of the biotechnology company’s stock after purchasing an additional 26,003 shares during the quarter. Geode Capital Management LLC owned approximately 0.44% of Novelion Therapeutics worth $71,000 as of its most recent SEC filing. Institutional investors own 37.05% of the company’s stock.

Several equities research analysts recently weighed in on NVLN shares. Zacks Investment Research cut shares of HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 21st. ValuEngine upgraded shares of Westpac Banking from a “sell” rating to a “hold” rating in a research report on Wednesday, May 22nd.

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.

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