Novelion Therapeutics (NASDAQ:NVLN) Trading 19.3% Higher

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Novelion Therapeutics Inc (NASDAQ:NVLN) (TSE:QLT)’s stock price traded up 19.3% during trading on Wednesday . The stock traded as high as $1.27 and last traded at $1.05, 339,958 shares traded hands during trading. An increase of 81% from the average session volume of 187,775 shares. The stock had previously closed at $0.88.

Separately, ValuEngine upgraded shares of Novelion Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th.

The firm’s fifty day moving average is $0.70 and its two-hundred day moving average is $0.96.

A hedge fund recently bought a new stake in Novelion Therapeutics stock. Stonepine Capital Management LLC bought a new stake in Novelion Therapeutics Inc (NASDAQ:NVLN) (TSE:QLT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 491,096 shares of the biotechnology company’s stock, valued at approximately $383,000. Novelion Therapeutics comprises approximately 0.3% of Stonepine Capital Management LLC’s portfolio, making the stock its 24th biggest position. Stonepine Capital Management LLC owned approximately 2.58% of Novelion Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). 36.04% of the stock is owned by institutional investors.

About Novelion Therapeutics (NASDAQ:NVLN)

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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