NuCana plc (NASDAQ:NCNA) Sees Significant Growth in Short Interest

NuCana plc (NASDAQ:NCNA) was the target of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,480,000 shares, an increase of 2,616.3% from the February 29th total of 91,300 shares. Based on an average daily volume of 1,560,000 shares, the short-interest ratio is presently 1.6 days. Approximately 5.7% of the company’s shares are sold short.

Institutional Investors Weigh In On NuCana

Several hedge funds have recently modified their holdings of NCNA. Citadel Advisors LLC purchased a new stake in shares of NuCana during the fourth quarter valued at $43,000. Commonwealth Equity Services LLC lifted its holdings in shares of NuCana by 208.3% during the first quarter. Commonwealth Equity Services LLC now owns 66,600 shares of the company’s stock valued at $63,000 after purchasing an additional 45,000 shares during the last quarter. Virtu Financial LLC lifted its holdings in shares of NuCana by 167.8% during the first quarter. Virtu Financial LLC now owns 77,952 shares of the company’s stock valued at $78,000 after purchasing an additional 48,845 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of NuCana by 10.4% during the second quarter. Renaissance Technologies LLC now owns 371,433 shares of the company’s stock valued at $269,000 after purchasing an additional 35,100 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in NuCana by 163.2% in the 1st quarter. Acadian Asset Management LLC now owns 522,532 shares of the company’s stock worth $520,000 after acquiring an additional 324,010 shares in the last quarter. 44.00% of the stock is owned by hedge funds and other institutional investors.

NuCana Stock Down 15.2 %

Shares of NASDAQ NCNA opened at $0.26 on Friday. NuCana has a 12 month low of $0.23 and a 12 month high of $1.00. The company has a market cap of $13.60 million, a price-to-earnings ratio of -0.41 and a beta of 0.96. The business has a fifty day simple moving average of $0.32 and a 200-day simple moving average of $0.41.

Shares of NuCana are going to reverse split on Tuesday, April 16th. The 1-25 reverse split was announced on Tuesday, April 16th. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, April 16th.

About NuCana

NuCana plc, a clinical-stage biopharmaceutical company, engages in the development of medicines to treat patients with cancer. The company applies its ProTide technology to transform prescribed chemotherapy agents and nucleoside analogs into medicines. The company, through its technology, is developing medicines, ProTides, to overcome the limitations of nucleoside analogs and generate much higher concentrations of anti-cancer metabolites in cancer cells.