NuCana (NCNA) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of NuCana (NASDAQ:NCNA) from a buy rating to a hold rating in a report issued on Tuesday morning.

According to Zacks, “NuCana PLC is a clinical-stage biopharmaceutical company. It focused on improving treatment outcomes for cancer patients by applying its phosphoramidate chemistry technology. The company’s pipeline of products includes Acelarin, NUC-3373 and NUC-7738 which are in clinical stage. NuCana PLC is based in EDINBURGH, United Kingdom. “

Several other research analysts have also commented on NCNA. Jefferies Group started coverage on NuCana in a research report on Monday, October 23rd. They set a buy rating and a $25.00 price target for the company. Citigroup started coverage on NuCana in a report on Monday, October 23rd. They issued a buy rating and a $23.00 target price for the company. William Blair started coverage on NuCana in a report on Monday, October 23rd. They issued an outperform rating for the company. Finally, Cowen started coverage on NuCana in a report on Monday, October 23rd. They issued an outperform rating for the company. Five investment analysts have rated the stock with a buy rating, The company currently has an average rating of Buy and a consensus price target of $20.67.

NuCana (NASDAQ:NCNA) traded up $0.58 on Tuesday, hitting $14.30. The stock had a trading volume of 116,318 shares, compared to its average volume of 55,579. NuCana has a 1-year low of $9.32 and a 1-year high of $19.95. The stock has a market capitalization of $455.95 and a price-to-earnings ratio of -44.69.

A number of large investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. purchased a new position in NuCana in the third quarter valued at $8,266,000. Perceptive Advisors LLC purchased a new position in NuCana in the third quarter valued at $3,674,000. Alyeska Investment Group L.P. purchased a new position in NuCana in the third quarter valued at $2,296,000. Citadel Advisors LLC acquired a new stake in NuCana in the third quarter valued at $1,218,000. Finally, Sphera Funds Management LTD. acquired a new stake in NuCana in the third quarter valued at $919,000. Hedge funds and other institutional investors own 22.27% of the company’s stock.

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About NuCana

NuCana PLC is a clinical-stage biopharmaceutical company. The Company is focused on improving treatment outcomes for cancer patients by applying its phosphoramidate chemistry technology. The Company utilizes its ProTide technology to develop medicines to overcome cancer resistance mechanisms and generate much higher concentrations of anti-cancer metabolites in cancer cells.

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