Nanobiotix (NASDAQ:NBTX) Shares Gap Down – Here’s Why

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) shares gapped down before the market opened on Friday . The stock had previously closed at $31.60, but opened at $30.28. Nanobiotix shares last traded at $29.8750, with a volume of 6,170 shares.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Nanobiotix in a research report on Thursday, January 22nd. TD Cowen reissued a “buy” rating on shares of Nanobiotix in a report on Thursday, March 12th. Guggenheim raised their target price on shares of Nanobiotix from $8.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Finally, Leerink Partners reaffirmed an “outperform” rating on shares of Nanobiotix in a report on Tuesday, November 25th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Nanobiotix Stock Performance

The business has a 50-day simple moving average of $26.13 and a two-hundred day simple moving average of $21.75.

Institutional Trading of Nanobiotix

Several hedge funds have recently made changes to their positions in the company. Optiver Holding B.V. purchased a new stake in shares of Nanobiotix in the third quarter valued at about $101,000. Marshall Wace LLP acquired a new stake in Nanobiotix in the fourth quarter valued at about $220,000. Royal Bank of Canada boosted its holdings in Nanobiotix by 2,000.0% in the 4th 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 in the last quarter. Finally, Millennium Management LLC acquired a new position in Nanobiotix during the 4th quarter worth approximately $390,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

Nanobiotix Company Profile

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.