Short Interest in Novogen Limited (NASDAQ:KZIA) Expands By 56.4%

Novogen Limited (NASDAQ:KZIA) was the target of a large increase in short interest in February. As of February 13th, there was short interest totaling 48,796 shares, an increase of 56.4% from the January 29th total of 31,200 shares. Currently, 3.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 126,006 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily trading volume, of 126,006 shares, the days-to-cover ratio is currently 0.4 days. Currently, 3.0% of the shares of the stock are sold short.

Novogen Stock Performance

Shares of NASDAQ:KZIA opened at $8.45 on Friday. The business has a fifty day moving average of $6.63 and a 200-day moving average of $7.73. Novogen has a twelve month low of $2.86 and a twelve month high of $17.40.

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

Wall Street Analysts Forecast Growth

KZIA has been the subject of several recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $18.00 price objective on shares of Novogen in a research note on Wednesday, January 28th. Wall Street Zen upgraded shares of Novogen from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Novogen in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $19.00.

Novogen Company Profile

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.