Novogen Limited (NASDAQ:KZIA) Short Interest Down 33.9% in March

Novogen Limited (NASDAQ:KZIA) saw a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 45,079 shares, a decrease of 33.9% from the February 26th total of 68,201 shares. Currently, 2.8% of the company’s shares are short sold. Based on an average trading volume of 144,252 shares, the days-to-cover ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KZIA. Wall Street Zen cut shares of Novogen from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Novogen in a report on Thursday, January 22nd. Finally, HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Novogen in a research report on Wednesday, January 28th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Novogen currently has an average rating of “Hold” and a consensus price target of $19.00.

Novogen Price Performance

KZIA stock traded down $0.10 during trading hours on Friday, reaching $7.16. 177,897 shares of the stock were exchanged, compared to its average volume of 123,474. The firm’s 50-day moving average is $7.02 and its 200-day moving average is $7.75. Novogen has a 12 month low of $2.86 and a 12 month high of $17.40.

Novogen (NASDAQ:KZIA) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($1.34) EPS for the quarter.

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.