Novogen Limited (NASDAQ:KZIA) Sees Significant Growth in Short Interest

Novogen Limited (NASDAQ:KZIA) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 155,365 shares, an increase of 283.6% from the December 15th total of 40,501 shares. Based on an average daily volume of 237,606 shares, the days-to-cover ratio is presently 0.7 days. Approximately 9.5% of the company’s shares are short sold. Approximately 9.5% of the company’s shares are short sold. Based on an average daily volume of 237,606 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analysts Forecast Growth

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

Novogen Trading Up 8.6%

Shares of Novogen stock opened at $6.84 on Thursday. Novogen has a 1 year low of $2.86 and a 1 year high of $17.40. The firm’s 50-day moving average is $8.84 and its two-hundred day moving average is $8.25.

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

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.