NuCana (NASDAQ:NCNA) Trading Down 3.2% – Here’s What Happened

NuCana plc (NASDAQ:NCNA) shares dropped 3.2% during mid-day trading on Thursday . The stock traded as low as $1.21 and last traded at $1.21. Approximately 60,404 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 418,861 shares. The stock had previously closed at $1.25.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NCNA. William Blair cut NuCana from an “outperform” rating to a “market perform” rating in a research report on Friday, August 30th. Oppenheimer decreased their price target on NuCana from $150.00 to $25.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 3rd.

NuCana Price Performance

The firm has a market capitalization of $3.19 million, a PE ratio of -0.12 and a beta of 0.94. The company has a 50-day moving average price of $1.51 and a 200-day moving average price of $2.83.

Institutional Investors Weigh In On NuCana

An institutional investor recently bought a new position in NuCana stock. Baillie Gifford & Co. acquired a new position in shares of NuCana plc (NASDAQ:NCNA) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 146,360 shares of the company’s stock, valued at approximately $378,000. Baillie Gifford & Co. owned 5.54% of NuCana as of its most recent SEC filing. Institutional investors and hedge funds own 44.00% of the company’s stock.

About NuCana

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.