Nanobiotix (NASDAQ:NBTX) Shares Down 9.1% – Should You Sell?

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) shares fell 9.1% on Tuesday . The stock traded as low as $29.01 and last traded at $29.77. 14,775 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 46,142 shares. The stock had previously closed at $32.76.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NBTX. TD Cowen restated a “buy” rating on shares of Nanobiotix in a report on Thursday, March 12th. Guggenheim boosted their target price on Nanobiotix from $26.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nanobiotix in a report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Nanobiotix currently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

Nanobiotix Price Performance

The business has a 50 day moving average price of $28.52 and a 200 day moving average price of $23.73.

Nanobiotix (NASDAQ:NBTX) last issued its quarterly earnings results on Sunday, February 15th. The company reported ($0.23) earnings per share (EPS) for the quarter. The company had revenue of $3.42 million during the quarter. On average, research analysts predict that Nanobiotix S.A. – Sponsored ADR will post -1.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Nanobiotix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC bought a new position in Nanobiotix during the fourth quarter valued at about $390,000. Marshall Wace LLP bought a new position in Nanobiotix during the fourth quarter valued at about $220,000. Royal Bank of Canada increased its stake in Nanobiotix by 2,000.0% during the fourth quarter. Royal Bank of Canada now owns 2,625 shares of the company’s stock valued at $61,000 after acquiring an additional 2,500 shares during the period. Finally, Optiver Holding B.V. bought a new position in Nanobiotix during the third quarter valued at about $101,000. 38.81% of the stock is currently owned by institutional investors.

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.