Novelion Therapeutics (NVLN) Hits New 12-Month Low at $3.10

Novelion Therapeutics Inc (NASDAQ:NVLN) (TSE:QLT) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $3.10 and last traded at $3.23, with a volume of 56600 shares trading hands. The stock had previously closed at $3.25.

Several brokerages recently weighed in on NVLN. Zacks Investment Research lowered Novelion Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, November 17th. Royal Bank of Canada decreased their price objective on Novelion Therapeutics from $9.00 to $8.00 and set a “sector perform” rating for the company in a report on Friday, November 10th. Finally, ValuEngine lowered Novelion Therapeutics from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 12th.

The firm has a market cap of $58.20, a price-to-earnings ratio of -0.45 and a beta of 0.29. The company has a debt-to-equity ratio of 6.53, a current ratio of 1.45 and a quick ratio of 1.28.

Institutional investors and hedge funds have recently made changes to their positions in the stock. TIAA CREF Investment Management LLC purchased a new stake in Novelion Therapeutics in the 2nd quarter worth about $377,000. Northern Trust Corp purchased a new stake in Novelion Therapeutics in the 2nd quarter worth about $1,251,000. Bank of New York Mellon Corp purchased a new stake in Novelion Therapeutics in the 2nd quarter worth about $380,000. FMR LLC increased its holdings in Novelion Therapeutics by 16.8% in the 2nd quarter. FMR LLC now owns 678,977 shares of the biotechnology company’s stock worth $6,267,000 after acquiring an additional 97,500 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. purchased a new stake in Novelion Therapeutics in the 2nd quarter worth about $240,000. 75.55% of the stock is owned by institutional investors.

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Novelion Therapeutics Company Profile

Novelion Therapeutics Inc, formerly QLT Inc, is a Canada-based biopharmaceutical company. The Company is engaged in development of new standards of care for individuals living with rare diseases. The Company is focused on advancing its portfolio of rare disease therapies by investing in science and clinical development.

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