NuCana plc (NASDAQ:NCNA) Short Interest Down 73.1% in October

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NuCana plc (NASDAQ:NCNA) was the target of a large decline in short interest during the month of October. As of October 30th, there was short interest totalling 149,000 shares, a decline of 73.1% from the October 15th total of 553,700 shares. Based on an average trading volume of 229,200 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.5% of the shares of the stock are short sold.

Large investors have recently modified their holdings of the company. ExodusPoint Capital Management LP purchased a new stake in NuCana in the 3rd quarter worth approximately $166,000. Abingworth LLP bought a new position in shares of NuCana during the 3rd quarter valued at $17,233,000. JPMorgan Chase & Co. boosted its position in NuCana by 253.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 291,825 shares of the company’s stock valued at $1,535,000 after buying an additional 209,368 shares during the period. Blair William & Co. IL boosted its position in NuCana by 47.4% during the 3rd quarter. Blair William & Co. IL now owns 36,050 shares of the company’s stock valued at $186,000 after buying an additional 11,600 shares during the period. Finally, Granite Point Capital Management L.P. purchased a new stake in NuCana during the 3rd quarter valued at $4,136,000. Institutional investors own 41.74% of the company’s stock.

Shares of NASDAQ:NCNA traded up $0.04 during mid-day trading on Tuesday, reaching $4.77. 83,474 shares of the company’s stock were exchanged, compared to its average volume of 150,295. The firm has a market capitalization of $154.93 million, a price-to-earnings ratio of -5.61 and a beta of 1.06. The business’s fifty day moving average price is $5.01 and its 200-day moving average price is $5.47. NuCana has a twelve month low of $3.81 and a twelve month high of $10.59.

NuCana (NASDAQ:NCNA) last issued its quarterly earnings results on Wednesday, August 19th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). Sell-side analysts anticipate that NuCana will post -0.88 EPS for the current fiscal year.

NCNA has been the topic of a number of research analyst reports. Piper Sandler lifted their price target on NuCana from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, August 21st. Truist initiated coverage on NuCana in a report on Thursday, October 22nd. They set a “buy” rating and a $22.00 price target on the stock. Cowen reiterated an “average” rating on shares of NuCana in a report on Wednesday, July 29th. Zacks Investment Research upgraded NuCana from a “hold” rating to a “strong-buy” rating and set a $5.25 price target on the stock in a report on Wednesday, November 11th. Finally, Oppenheimer reiterated a “buy” rating and set a $21.00 price target on shares of NuCana in a report on Monday, September 21st. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. NuCana presently has a consensus rating of “Buy” and a consensus target price of $16.45.

About NuCana

NuCana plc, a clinical-stage biopharmaceutical company, engages in the development of products for the treatment of cancer. The company develops its products based on its proprietary ProTide technology. Its lead product candidate includes Acelarin, which is in Phase Ib and Phase III clinical trials for the treatment of patients with biliary tract cancer; a Phase II clinical trial for the treatment of patients with platinum-resistant ovarian cancer; Phase Ib clinical trial for the treatment of patients with biliary cancer; and Phase III clinical trial for the treatment of patients with metastatic pancreatic cancer.

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