Nanobiotix (NASDAQ:NBTX) Shares Gap Down – Time to Sell?

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $34.07, but opened at $31.03. Nanobiotix shares last traded at $30.8590, with a volume of 14,146 shares changing hands.

Wall Street Analyst Weigh In

NBTX has been the topic of several research analyst reports. TD Cowen reaffirmed 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 research report on Thursday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nanobiotix in a research note on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $25.00.

Nanobiotix Stock Performance

The firm’s 50-day simple moving average is $27.90 and its 200-day simple moving average is $23.20.

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

Hedge Funds Weigh In On Nanobiotix

Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its holdings in shares of Nanobiotix by 2,000.0% during the 4th quarter. Royal Bank of Canada now owns 2,625 shares of the company’s stock valued at $61,000 after buying an additional 2,500 shares in the last quarter. Millennium Management LLC purchased a new stake in Nanobiotix in the fourth quarter worth approximately $390,000. Marshall Wace LLP bought a new position in Nanobiotix during the fourth quarter valued at approximately $220,000. Finally, Optiver Holding B.V. purchased a new position in shares of Nanobiotix during the third quarter worth approximately $101,000. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

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.