Novelion Therapeutics Inc. (NASDAQ:NVLN) Holdings Trimmed by Credit Suisse AG

Credit Suisse AG lessened its holdings in Novelion Therapeutics Inc. (NASDAQ:NVLN) (TSE:QLT) by 23.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,660 shares of the biotechnology company’s stock after selling 6,726 shares during the period. Credit Suisse AG owned approximately 0.12% of Novelion Therapeutics worth $233,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stonepine Capital Management LLC increased its position in Novelion Therapeutics by 2.4% during the first quarter. Stonepine Capital Management LLC now owns 1,560,487 shares of the biotechnology company’s stock valued at $16,760,000 after acquiring an additional 36,453 shares during the last quarter. Highbridge Capital Management LLC increased its position in Novelion Therapeutics by 190.8% during the first quarter. Highbridge Capital Management LLC now owns 625,268 shares of the biotechnology company’s stock valued at $6,716,000 after acquiring an additional 410,268 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its position in Novelion Therapeutics by 27.4% during the first quarter. Gilder Gagnon Howe & Co. LLC now owns 331,599 shares of the biotechnology company’s stock valued at $3,561,000 after acquiring an additional 71,409 shares during the last quarter. Oxford Asset Management bought a new position in Novelion Therapeutics during the first quarter valued at $1,238,000. Finally, Yakira Capital Management Inc. bought a new position in Novelion Therapeutics during the first quarter valued at $391,000. Institutional investors own 78.44% of the company’s stock.

Shares of Novelion Therapeutics Inc. (NASDAQ:NVLN) opened at 6.77 on Friday. The company has a 50-day moving average of $7.53 and a 200-day moving average of $9.25. The stock’s market capitalization is $126.25 million. Novelion Therapeutics Inc. has a 1-year low of $6.62 and a 1-year high of $13.80.

Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last announced its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The company had revenue of $40.90 million during the quarter, compared to analyst estimates of $36.86 million. On average, equities research analysts expect that Novelion Therapeutics Inc. will post ($1.66) EPS for the current fiscal year.

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A number of research analysts have weighed in on NVLN shares. ValuEngine cut shares of Novelion Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Zacks Investment Research upgraded shares of Novelion Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Royal Bank Of Canada set a $9.00 price target on shares of Novelion Therapeutics and gave the stock a “hold” rating in a report on Tuesday, August 8th. Finally, Bloom Burton restated an “accumulate” rating on shares of Novelion Therapeutics in a report on Monday, June 19th.

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.

Institutional Ownership by Quarter for Novelion Therapeutics (NASDAQ:NVLN)

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