Novogen Limited (NASDAQ:KZIA) Short Interest Update

Novogen Limited (NASDAQ:KZIA) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 905,818 shares, an increase of 62.0% from the August 15th total of 559,162 shares. Based on an average daily volume of 309,445 shares, the short-interest ratio is presently 2.9 days. Currently, 7.1% of the shares of the stock are sold short.

Novogen Stock Performance

Novogen stock traded up $0.66 during trading hours on Thursday, reaching $10.86. 445,149 shares of the company’s stock traded hands, compared to its average volume of 228,120. Novogen has a fifty-two week low of $4.86 and a fifty-two week high of $17.40. The firm’s 50 day moving average is $12.97 and its 200-day moving average is $11.79.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on KZIA shares. Canaccord Genuity Group started coverage on shares of Novogen in a report on Thursday, August 13th. They issued a “buy” rating and a $29.00 target price on the stock. BTIG Research restated a “buy” rating and issued a $40.00 price target on shares of Novogen in a research report on Thursday, September 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Novogen in a research note on Friday, July 17th. Finally, Lake Street Capital began coverage on shares of Novogen in a research note on Thursday, June 11th. They issued a “buy” rating and a $32.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.33.

Novogen Company Profile

Novogen Limited, now known as Kazia Therapeutics Limited, is an Australia-based biotechnology company focused on developing therapies for cancer and other serious diseases. The company’s research has centered on targeted treatments designed to address tumors that are difficult to treat with conventional approaches.

Kazia’s principal clinical program has been paxalisib, an orally administered inhibitor of the PI3K/mTOR pathway being investigated primarily for brain cancers, including glioblastoma.