NuCana (NASDAQ:NCNA) stock is rising on Wednesday as the clinical-stage biopharmaceutical company’s shares experiences heavy trading this morning.
That has more than 9.6 million shares of the company’s stock changing hands as of this writing. This is already well above the company’s daily average trading volume of about 407,000 shares.
Investors will note that this builds on a 16.5% rally that NCNA stock saw on Tuesday. That came with around 10.9 million shares being traded.
Investors will note that these rallies come alongside the company gaining a new patent. The patent is titled “Phosphoramidate Derivatives For Use In The Treatment Of Cancer; Especially In The Treatment Where The Patient Shows Resistance.” This covers leukemia, prostate, lung, and breast cancers.
What to Know About NCNA Stock
It is also worth mentioning that NCNA is a penny stock. This opens it up to extra volatility, which is often worse outside of normal trading hours.
It’s possible that certain traders have taken an interest in NuCana on this news and are pumping its shares today. If that’s true, investors will want to be careful about taking a stake in NCNA. It could easily lead to losses if the stock falls from these highs.
NCNA stock is up 101.9% as of Wednesday morning.
Investors seeking out more of the most recent stock market stories are in luck!
We have all of the hottest stock market news traders need to know about on Wednesday! That includes the biggest pre-market stock movers this morning, the latest news concerning Li Auto (NASDAQ:LI) price cuts and more. All of that info is ready to go at the links below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
