Nanobiotix (NASDAQ:NBTX) Posts Earnings Results, Misses Expectations By $0.43 EPS

Nanobiotix (NASDAQ:NBTX) issued its quarterly earnings data on Tuesday. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.43), FiscalAI reports. The business had revenue of $3.42 million during the quarter, compared to the consensus estimate of $41.95 million.

Nanobiotix Stock Performance

Nanobiotix stock traded up $0.29 during mid-day trading on Tuesday, hitting $30.87. The company’s stock had a trading volume of 69,167 shares, compared to its average volume of 44,952. The company has a 50 day moving average of $27.43 and a 200-day moving average of $22.97. Nanobiotix has a one year low of $2.99 and a one year high of $41.89.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada lifted its holdings in 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. Marshall Wace LLP purchased a new stake in Nanobiotix in the 4th quarter valued at about $220,000. Finally, Millennium Management LLC bought a new position in Nanobiotix in the 4th quarter worth about $390,000. 38.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Guggenheim increased their target price on shares of Nanobiotix from $8.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, February 6th. TD Cowen reiterated a “buy” rating on shares of Nanobiotix in a report on Thursday, March 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nanobiotix in a research report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $20.00.

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.