NuCana (NASDAQ:NCNA) Trading Down 3.2% – Time to Sell?

NuCana plc (NASDAQ:NCNA)’s stock price dropped 3.2% during mid-day trading on Thursday . The company traded as low as $1.21 and last traded at $1.21. Approximately 60,404 shares changed hands during 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

NCNA has been the subject of a number of analyst reports. Oppenheimer dropped their price target on shares of NuCana from $150.00 to $25.00 and set an “outperform” rating for the company in a research report on Tuesday, September 3rd. William Blair downgraded NuCana from an “outperform” rating to a “market perform” rating in a research report on Friday, August 30th.

NuCana Stock Performance

The company’s 50-day moving average is $1.49 and its 200-day moving average is $2.81. The firm has a market cap of $3.20 million, a price-to-earnings ratio of -0.12 and a beta of 0.94.

Hedge Funds Weigh In On NuCana

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

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.