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

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) shares gapped down before the market opened on Wednesday . The stock had previously closed at $41.64, but opened at $40.23. Nanobiotix shares last traded at $40.3590, with a volume of 8,484 shares traded.

Wall Street Analyst Weigh In

NBTX has been the topic of a number of research reports. HC Wainwright reaffirmed a “buy” rating on shares of Nanobiotix in a research note on Monday, May 18th. Guggenheim raised their target price on Nanobiotix from $26.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nanobiotix in a research note on Tuesday, April 21st. Finally, Leerink Partners boosted their price target on Nanobiotix from $37.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Nanobiotix currently has a consensus rating of “Moderate Buy” and an average price target of $37.33.

Nanobiotix Stock Performance

The firm’s 50 day moving average is $39.81 and its 200-day moving average is $32.14.

Institutional Investors Weigh In On Nanobiotix

A number of large investors have recently made changes to their positions in the stock. Millennium Management LLC purchased a new position in Nanobiotix during the fourth quarter worth approximately $390,000. Marshall Wace LLP acquired a new position in Nanobiotix during the fourth quarter worth $220,000. Finally, Royal Bank of Canada grew 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 buying an additional 2,500 shares in the last quarter. 38.81% of the stock is currently owned by hedge funds and other 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.