Nanobiotix (NASDAQ:NBTX) Stock Price Down 5.7% – Here’s Why

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX)’s stock price dropped 5.7% during trading on Wednesday . The company traded as low as $43.23 and last traded at $43.5850. Approximately 25,847 shares changed hands during trading, a decline of 56% from the average daily volume of 59,378 shares. The stock had previously closed at $46.20.

Wall Street Analysts Forecast Growth

NBTX has been the subject of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating on shares of Nanobiotix in a report on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nanobiotix in a report on Tuesday, April 21st. Guggenheim raised their price objective on shares of Nanobiotix from $26.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. UBS Group raised their price objective on shares of Nanobiotix from $3.50 to $30.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, TD Cowen reaffirmed a “buy” rating on shares of Nanobiotix in a report on Thursday, March 12th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $26.67.

Nanobiotix Trading Down 6.9%

The firm’s fifty day moving average is $35.69 and its 200-day moving average is $27.55.

Nanobiotix (NASDAQ:NBTX) last announced its quarterly earnings results on Sunday, February 15th. The company reported ($0.23) earnings per share (EPS) for the quarter. The company had revenue of $3.42 million for the quarter. On average, equities analysts predict that Nanobiotix S.A. – Sponsored ADR will post 0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nanobiotix

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

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.