Novogen Limited (NASDAQ:KZIA) Sees Large Decline in Short Interest

Novogen Limited (NASDAQ:KZIA) was the target of a large decrease in short interest in the month of December. As of December 15th, there was short interest totaling 40,501 shares, a decrease of 35.4% from the November 30th total of 62,659 shares. Approximately 2.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 245,980 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 245,980 shares, the days-to-cover ratio is currently 0.2 days. Approximately 2.5% of the shares of the stock are short sold.

Novogen Stock Up 4.5%

Novogen stock traded up $0.28 during trading hours on Tuesday, reaching $6.46. 232,861 shares of the stock were exchanged, compared to its average volume of 246,579. Novogen has a 52-week low of $2.86 and a 52-week high of $17.40. The firm’s 50 day moving average is $9.04 and its 200 day moving average is $8.35.

Novogen (NASDAQ:KZIA) last posted its quarterly earnings results on Friday, November 7th. The company reported ($6.14) earnings per share for the quarter. The company had revenue of $0.59 million during the quarter.

Analyst Upgrades and Downgrades

Several analysts have recently commented on KZIA shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Novogen in a research report on Wednesday, October 8th. Maxim Group raised their target price on shares of Novogen from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. HC Wainwright raised their price objective on shares of Novogen from $13.00 to $18.00 and gave the company a “buy” rating in a report on Friday, December 12th. Finally, Wall Street Zen raised Novogen to a “hold” rating in a report on Saturday, November 22nd. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $19.00.

About Novogen

Novogen (NASDAQ:KZIA) is a clinical-stage biotechnology company focused on the discovery and development of novel small-molecule therapeutics for the treatment of cancer. The company’s pipeline includes GDC-0084, a brain-penetrant phosphoinositide 3-kinase (PI3K) inhibitor in Phase II development for glioblastoma, as well as Cantrixil, an orally bioavailable small molecule designed to target treatment-resistant ovarian cancer stem cells. Novogen’s research efforts leverage structure-based drug design to optimize selectivity and pharmacokinetic profiles, seeking to address high-unmet medical needs in oncology.

Founded in Australia and now headquartered in New York City, Novogen maintains research facilities in Perth and collaborates with academic institutions and contract research organizations worldwide.