Novelion Therapeutics Inc (NASDAQ:NVLN) Sees Large Drop in Short Interest
Novelion Therapeutics Inc (NASDAQ:NVLN) (TSE:QLT) was the target of a significant decline in short interest in July. As of July 15th, there was short interest totalling 118,800 shares, a decline of 6.5% from the June 15th total of 127,100 shares. Based on an average trading volume of 99,300 shares, the short-interest ratio is currently 1.2 days. Approximately 0.8% of the company’s stock are short sold.
Several research firms recently commented on NVLN. Zacks Investment Research lowered shares of HENGAN INTL GRP/ADR from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. ValuEngine upgraded shares of Westpac Banking from a “sell” rating to a “hold” rating in a research note on Wednesday, May 22nd.
An institutional investor recently raised its position in Novelion Therapeutics stock. Geode Capital Management LLC raised its holdings in shares of Novelion Therapeutics Inc (NASDAQ:NVLN) (TSE:QLT) by 45.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,901 shares of the biotechnology company’s stock after buying an additional 26,003 shares during the period. Geode Capital Management LLC owned about 0.44% of Novelion Therapeutics worth $71,000 at the end of the most recent quarter. Institutional investors and hedge funds own 37.05% of the company’s stock.
Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last released its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($1.67) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($1.82). The firm had revenue of $32.20 million for the quarter, compared to analysts’ expectations of $58.10 million.
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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