Nanobiotix (NASDAQ:NBTX) Stock Jumps 8.8% – Here’s What Happened

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX)’s stock price rose 8.8% during mid-day trading on Tuesday. The company traded as high as $22.79 and last traded at $23.17. 3,785 shares traded hands during trading, a decline of 96% from the average daily volume of 93,957 shares. The stock had previously closed at $21.30.

Analyst Ratings Changes

NBTX has been the subject of several recent analyst reports. Guggenheim began coverage on shares of Nanobiotix in a report on Tuesday, September 15th. They issued a “buy” rating and a $64.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Nanobiotix in a research report on Thursday. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $46.67.

Nanobiotix Stock Performance

The firm’s 50-day moving average is $34.37 and its two-hundred day moving average is $36.59.

About Nanobiotix

Nanobiotix is a clinical-stage biotechnology company focused on developing nanomedicine-based therapies for cancer. Headquartered in France, the company uses its proprietary NanoXray technology to design nanoparticles intended to enhance the effects of radiotherapy within solid tumors.

Nanobiotix’s lead product candidate, NBTXR3, is an investigational radioenhancer composed of hafnium oxide nanoparticles. Administered directly into a tumor before radiotherapy, NBTXR3 is designed to increase energy deposition in cancer cells when exposed to X-rays, with the goal of improving tumor control while using established radiation-treatment techniques.

The company is evaluating NBTXR3 in clinical studies across several cancer indications, including locally advanced soft-tissue sarcoma and head and neck cancers, as well as other solid tumors.