Nanobiotix (NASDAQ:NBTX) Shares Up 5.7% – Here’s Why

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX)’s stock price rose 5.7% on Monday . The stock traded as high as $40.76 and last traded at $40.51. Approximately 114,333 shares changed hands during mid-day trading, an increase of 50% from the average session volume of 76,429 shares. The stock had previously closed at $38.31.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. HC Wainwright restated a “buy” rating on shares of Nanobiotix in a research note on Monday, May 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nanobiotix in a report on Friday, July 17th. UBS Group raised their target price on Nanobiotix from $3.50 to $30.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Finally, Leerink Partners lifted their target price on Nanobiotix from $37.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Nanobiotix has an average rating of “Moderate Buy” and an average target price of $37.33.

Nanobiotix Price Performance

The stock’s 50-day moving average is $37.82 and its 200-day moving average is $34.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NBTX. Millennium Management LLC acquired a new position in shares of Nanobiotix during the fourth quarter valued at approximately $390,000. Royal Bank of Canada raised its stake in shares of Nanobiotix by 2,000.0% in the 4th quarter. Royal Bank of Canada now owns 2,625 shares of the company’s stock worth $61,000 after buying an additional 2,500 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Nanobiotix in the 4th quarter worth $220,000. 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.