Novogen Limited (NASDAQ:KZIA) Short Interest Up 283.6% in December

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

Novogen Trading Up 8.6%

Shares of KZIA traded up $0.54 during trading hours on Wednesday, hitting $6.84. The company had a trading volume of 305,872 shares, compared to its average volume of 271,764. Novogen has a one year low of $2.86 and a one year high of $17.40. The company’s fifty day moving average price is $8.85 and its two-hundred day moving average price is $8.26.

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

Analyst Ratings Changes

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