Novogen (NASDAQ:KZIA) Shares Down 1.3% – Time to Sell?

Shares of Novogen Limited (NASDAQ:KZIA) dropped 1.3% during trading on Monday. The stock traded as low as $8.72 and last traded at $8.81. Approximately 66,815 shares traded hands during trading, a decline of 75% from the average session volume of 263,089 shares. The stock had previously closed at $8.93.

Analyst Ratings Changes

Several equities analysts have recently commented on KZIA shares. Canaccord Genuity Group assumed coverage on shares of Novogen in a report on Thursday, August 13th. They set a “buy” rating and a $29.00 price target on the stock. BTIG Research reiterated a “buy” rating and issued a $40.00 price objective on shares of Novogen in a report on Thursday, September 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Novogen in a research note on Friday, July 17th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $28.80.

Novogen Trading Down 1.3%

The stock’s 50-day moving average price is $11.73 and its 200 day moving average price is $11.98.

About Novogen

Novogen Limited was an Australian biotechnology company focused on developing therapies for cancer and other serious diseases. The company’s research centered on small-molecule drug candidates designed to target biological pathways involved in tumor growth and survival.

Novogen’s oncology programs included investigational treatments such as Cantrixil, a therapy intended to target cancer stem cells, and Trilexium, an anticancer compound based on a DNA-damaging mechanism. The company also developed brain-penetrant compounds for the treatment of central nervous system cancers.

In 2016, Novogen changed its name to Kazia Therapeutics Limited and adopted the Nasdaq symbol KZIA.