Short Interest in Novogen Limited (NASDAQ:KZIA) Decreases By 35.4%

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

Novogen Price Performance

NASDAQ:KZIA opened at $7.57 on Friday. The stock has a 50 day simple moving average of $9.08 and a 200 day simple moving average of $8.41. Novogen has a 1-year low of $2.86 and a 1-year high of $17.40.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on KZIA shares. HC Wainwright upped their price objective on Novogen from $13.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Novogen in a research note on Wednesday, October 8th. Maxim Group raised their price target on Novogen from $15.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Finally, Wall Street Zen upgraded shares of Novogen to a “hold” rating in a report on Saturday, November 22nd. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Novogen presently 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.