Northern Trust Corp acquired a new position in shares of Novelion Therapeutics Inc. (NASDAQ:NVLN) (TSE:QLT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 135,559 shares of the biotechnology company’s stock, valued at approximately $1,251,000. Northern Trust Corp owned about 0.73% of Novelion Therapeutics as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. TIAA CREF Investment Management LLC acquired a new position in Novelion Therapeutics during the 2nd quarter valued at about $377,000. Bank of New York Mellon Corp acquired a new position in Novelion Therapeutics during the 2nd quarter valued at about $380,000. JW Asset Management LLC lifted its position in Novelion Therapeutics by 1.8% during the 2nd quarter. JW Asset Management LLC now owns 315,980 shares of the biotechnology company’s stock valued at $2,916,000 after purchasing an additional 5,681 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Novelion Therapeutics by 1.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 112,902 shares of the biotechnology company’s stock valued at $1,213,000 after acquiring an additional 1,889 shares during the period. Finally, Schwab Charles Investment Management Inc. acquired a new stake in shares of Novelion Therapeutics in the 2nd quarter valued at approximately $240,000. 75.55% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Novelion Therapeutics Inc. (NASDAQ NVLN) opened at $3.66 on Wednesday. The company has a debt-to-equity ratio of 6.53, a quick ratio of 1.28 and a current ratio of 1.45. Novelion Therapeutics Inc. has a 52-week low of $3.43 and a 52-week high of $12.12.
NVLN has been the topic of a number of analyst reports. Zacks Investment Research downgraded shares of Novelion Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, November 17th. Royal Bank Of Canada cut their price target on shares of Novelion Therapeutics from $9.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Friday, November 10th. Finally, ValuEngine downgraded shares of Novelion Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 12th.
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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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