Gilder Gagnon Howe & Co. LLC reduced its position in shares of Novelion Therapeutics Inc. (NASDAQ:NVLN) (TSE:QLT) by 93.4% during the second quarter, Holdings Channel reports. The fund owned 21,833 shares of the biotechnology company’s stock after selling 309,766 shares during the period. Gilder Gagnon Howe & Co. LLC’s holdings in Novelion Therapeutics were worth $202,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new stake in shares of Novelion Therapeutics during the fourth quarter worth $2,803,000. Oxford Asset Management purchased a new stake in shares of Novelion Therapeutics during the first quarter worth $1,238,000. Norges Bank purchased a new stake in shares of Novelion Therapeutics during the fourth quarter worth $594,000. Yakira Capital Management Inc. purchased a new stake in shares of Novelion Therapeutics during the first quarter worth $391,000. Finally, Highbridge Capital Management LLC raised its stake in shares of Novelion Therapeutics by 190.8% in the first quarter. Highbridge Capital Management LLC now owns 625,268 shares of the biotechnology company’s stock worth $6,716,000 after buying an additional 410,268 shares during the last quarter. Institutional investors and hedge funds own 70.79% of the company’s stock.

Novelion Therapeutics Inc. (NVLN) opened at 7.66 on Friday. Novelion Therapeutics Inc. has a 52-week low of $1.37 and a 52-week high of $12.12. The company has a 50 day moving average of $9.17 and a 200-day moving average of $9.84. The stock’s market capitalization is $142.48 million.

Novelion Therapeutics (NASDAQ:NVLN) (TSE:QLT) last posted 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 for the quarter, compared to analysts’ expectations of $36.86 million. Equities research analysts anticipate that Novelion Therapeutics Inc. will post ($1.66) EPS for the current year.

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NVLN has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Novelion Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. ValuEngine lowered shares of Novelion Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Royal Bank Of Canada set a $9.00 price objective on shares of Novelion Therapeutics and gave the company a “hold” rating in a report on Tuesday. 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.

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

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