Nanobiotix (NASDAQ:NBTX) Shares Down 8.4% – Here’s What Happened

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) dropped 8.4% on Friday . The stock traded as low as $41.00 and last traded at $41.35. Approximately 120,522 shares were traded during trading, an increase of 43% from the average session volume of 84,377 shares. The stock had previously closed at $45.16.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NBTX. HC Wainwright restated a “buy” rating on shares of Nanobiotix in a research report on Monday, May 18th. Leerink Partners lifted their target price on shares of Nanobiotix from $37.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nanobiotix in a research note on Friday, July 17th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Nanobiotix has an average rating of “Moderate Buy” and a consensus target price of $37.33.

Nanobiotix Stock Down 8.7%

The firm has a fifty day moving average price of $39.24 and a 200 day moving average price of $36.10.

Institutional Investors Weigh In On Nanobiotix

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC acquired a new position in shares of Nanobiotix during the 4th quarter worth $390,000. Marshall Wace LLP purchased a new position in shares of Nanobiotix in the 4th quarter valued at about $220,000. Finally, Royal Bank of Canada lifted its stake in shares of Nanobiotix by 2,000.0% in the fourth quarter. Royal Bank of Canada now owns 2,625 shares of the company’s stock valued at $61,000 after purchasing an additional 2,500 shares during the period. Institutional investors and hedge funds own 38.81% of the company’s stock.

About Nanobiotix

Nanobiotix is a clinical-stage biotechnology company headquartered in Paris, France, specializing in the development of novel nanopharmaceuticals to improve cancer treatment. The company’s lead product, NBTXR3, is a first-in-class radioenhancer composed of hafnium oxide nanoparticles designed to amplify the effect of radiotherapy on tumor cells while sparing surrounding healthy tissue. Nanobiotix has established clinical programs across multiple cancer indications, including soft tissue sarcoma, head and neck cancer, and hepatocellular carcinoma.

Since its inception, Nanobiotix has advanced NBTXR3 through pivotal trials and secured CE Mark approval in Europe for the treatment of soft tissue sarcoma.