Schwab Charles Investment Management Inc. bought a new stake in shares of Novelion Therapeutics Inc. (NASDAQ:NVLN) (TSE:QLT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,900 shares of the biotechnology company’s stock, valued at approximately $240,000. Schwab Charles Investment Management Inc. owned about 0.14% of Novelion Therapeutics as of its most recent SEC filing.
Separately, JPMorgan Chase & Co. raised its holdings in shares of Novelion Therapeutics by 167.2% in the first quarter. JPMorgan Chase & Co. now owns 10,292 shares of the biotechnology company’s stock worth $110,000 after buying an additional 6,440 shares during the last quarter. 78.48% of the stock is owned by institutional investors.
Novelion Therapeutics Inc. (NASDAQ:NVLN) opened at $4.40 on Friday. Novelion Therapeutics Inc. has a fifty-two week low of $4.19 and a fifty-two week high of $13.80. The company has a current ratio of 1.38, a quick ratio of 1.15 and a debt-to-equity ratio of 2.77.
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NVLN has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed a “hold” rating and issued a $9.00 price target on shares of Novelion Therapeutics in a report on Tuesday, October 3rd. ValuEngine cut shares of Novelion Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, August 10th.
About Novelion Therapeutics
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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