Acadian Asset Management LLC Sells 567,027 Shares of NuCana plc (NASDAQ:NCNA)

Acadian Asset Management LLC trimmed its holdings in shares of NuCana plc (NASDAQ:NCNA) by 96.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,624 shares of the company’s stock after selling 567,027 shares during the quarter. Acadian Asset Management LLC’s holdings in NuCana were worth $59,000 at the end of the most recent reporting period.

Separately, Baillie Gifford & Co. bought a new stake in shares of NuCana in the second quarter valued at about $378,000. Hedge funds and other institutional investors own 44.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. William Blair lowered NuCana from an “outperform” rating to a “market perform” rating in a research note on Friday, August 30th. Oppenheimer dropped 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 Stock Performance

Shares of NCNA stock opened at $3.22 on Friday. The stock’s 50-day simple moving average is $4.19 and its 200-day simple moving average is $4.47. The firm has a market capitalization of $8.50 million, a price-to-earnings ratio of -0.28 and a beta of 1.01. NuCana plc has a fifty-two week low of $2.34 and a fifty-two week high of $20.25.

NuCana (NASDAQ:NCNA) last issued its earnings results on Thursday, August 15th. The company reported ($3.79) EPS for the quarter, missing analysts’ consensus estimates of ($3.55) by ($0.24). As a group, equities analysts forecast that NuCana plc will post -13.27 earnings per share for the current year.

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.