Nanobiotix (NASDAQ:NBTX) Shares Down 6.6% – Here’s What Happened

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX)’s stock price was down 6.6% during mid-day trading on Monday . The stock traded as low as $31.50 and last traded at $31.5760. Approximately 72,017 shares were traded during mid-day trading, an increase of 46% from the average daily volume of 49,416 shares. The stock had previously closed at $33.79.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NBTX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nanobiotix in a research note on Thursday, January 22nd. Guggenheim raised their target price on shares of Nanobiotix from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Finally, TD Cowen reiterated a “buy” rating on shares of Nanobiotix in a research note on Thursday, March 12th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

Nanobiotix Trading Down 5.5%

The company’s 50-day simple moving average is $30.35 and its 200-day simple moving average is $24.74.

Nanobiotix (NASDAQ:NBTX) last issued its quarterly earnings data on Sunday, February 15th. The company reported ($0.23) earnings per share (EPS) for the quarter. The business had revenue of $3.42 million for the quarter. Sell-side analysts anticipate that Nanobiotix S.A. – Sponsored ADR will post -1.18 EPS for the current fiscal year.

Institutional Investors Weigh In On Nanobiotix

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

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.