Nanobiotix (NASDAQ:NBTX) Shares Gap Down – What’s Next?

Shares of Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) gapped down prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. TD Cowen reissued a “buy” rating on shares of Nanobiotix in a research report on Thursday, March 12th. Guggenheim boosted their target price on Nanobiotix from $8.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Leerink Partners reaffirmed an “outperform” rating on shares of Nanobiotix in a research report on Tuesday, November 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nanobiotix in a research report 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Nanobiotix Stock Down 6.0%

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

Hedge Funds Weigh In On Nanobiotix

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Optiver Holding B.V. purchased a new stake in shares of Nanobiotix during the 3rd quarter worth approximately $101,000. Marshall Wace LLP acquired a new stake in Nanobiotix during the 4th quarter worth $220,000. Royal Bank of Canada lifted its position in 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 acquiring an additional 2,500 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Nanobiotix in the fourth quarter valued at $390,000. 38.81% of the stock is owned by institutional investors and hedge funds.

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.