Kingstown Capital Partners is Buying Novelion Therapeutics Inc. (NASDAQ:NVLN) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Novelion Therapeutics Inc. (NASDAQ:NVLN) reported that Kingstown Capital Partners, Llc. has picked up 358,460 of common stock as of 2017-04-05.

The acquisition brings the aggregate amount owned by Kingstown Capital Partners, Llc. to a total of 358,460 representing a 1.9% stake in the company.

For those not familiar with the company, 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. The Company holds a portfolio of products through its subsidiary, Aegerion Pharmaceuticals, Inc., a biopharmaceutical company dedicated to the development and commercialization of innovative therapies for patients with debilitating rare diseases. The Company’s portfolio of products include MYALEPT and JUXTAPID. The Company is also developing zuretinol acetate for the treatment of inherited retinal disease caused by underlying mutations in RPE65 or LRAT genes.

A glance at Novelion Therapeutics Inc. (NASDAQ:NVLN)’s key stats reveals a current market capitalization of 195.73 Million based on 18.53 Million shares outstanding and a price at last close of $10.65 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-09-15, Stonepine picked up 14,928 at a purchase price of $1.55. This brings their total holding to 5,778,496 as of the date of the filing.

On the sell side, the most recent transaction saw Axial unload 8,865,036 shares at a sale price of $3.47. This brings their total holding to 0.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Novelion Therapeutics Inc. (NASDAQ:NVLN) as things move forward to see if its progress aligns with these transactions.

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