NuCana (NASDAQ:NCNA) Stock Price Down 6.5% – Time to Sell?

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

NuCana Trading Down 6.5 %

The company has a market capitalization of $3.04 million, a price-to-earnings ratio of -0.11 and a beta of 0.97. The company has a 50-day moving average of $1.33 and a 200-day moving average of $2.64.

Hedge Funds Weigh In On NuCana

A hedge fund recently bought a new stake in NuCana stock. Glass Jacobson Investment Advisors llc purchased a new stake in shares of NuCana plc (NASDAQ:NCNA) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 15,000 shares of the company’s stock, valued at approximately $38,000. Glass Jacobson Investment Advisors llc owned about 0.57% of NuCana as of its most recent filing with the SEC. Hedge funds and other institutional investors 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.