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

Novogen Limited (NASDAQ:KZIA) was the target of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 68,201 shares, a growth of 39.8% from the February 12th total of 48,796 shares. Currently, 4.2% of the company’s shares are sold short. Based on an average trading volume of 234,547 shares, the short-interest ratio is currently 0.3 days. Based on an average trading volume of 234,547 shares, the short-interest ratio is currently 0.3 days. Currently, 4.2% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KZIA. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of Novogen in a report on Wednesday, January 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Novogen in a research report on Thursday, January 22nd. Finally, Wall Street Zen lowered shares of Novogen from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $19.00.

Novogen Trading Down 6.5%

Shares of NASDAQ:KZIA traded down $0.52 during trading on Friday, hitting $7.49. 87,773 shares of the company’s stock traded hands, compared to its average volume of 191,250. The company has a 50-day moving average price of $6.85 and a 200-day moving average price of $7.78. Novogen has a 52 week low of $2.86 and a 52 week high of $17.40.

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.