NuCana (NASDAQ:NCNA) Shares Down 6.5% – Here’s What Happened

NuCana plc (NASDAQ:NCNA)’s stock price dropped 6.5% on Thursday . The company traded as low as $1.14 and last traded at $1.15. Approximately 118,431 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 111,346 shares. The stock had previously closed at $1.23.

NuCana Price Performance

The stock has a market capitalization of $2.99 million, a P/E ratio of -0.11 and a beta of 0.97. The company’s 50 day simple moving average is $1.32 and its two-hundred day simple moving average is $2.62.

Hedge Funds Weigh In On NuCana

A hedge fund recently bought a new stake in NuCana stock. Glass Jacobson Investment Advisors llc bought a new position in shares of NuCana plc (NASDAQ:NCNA) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 15,000 shares of the company’s stock, valued at approximately $38,000. Glass Jacobson Investment Advisors llc owned about 0.57% of NuCana at the end of the most recent quarter. 44.00% of the stock is currently owned by hedge funds and other institutional investors.

NuCana Company Profile

NuCana plc, a clinical-stage biopharmaceutical company, engages in the development of medicines to treat patients with cancer. It applies its ProTide technology to transform prescribed chemotherapy agents and nucleoside analogs into medicines. The company, through its technology, is developing ProTides medicines to overcome the limitations of nucleoside analogs and generate much higher concentrations of anti-cancer metabolites in cancer cells.