Nanobiotix (NASDAQ:NBTX) Shares Gap Down – Here’s Why

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $33.55, but opened at $31.71. Nanobiotix shares last traded at $32.2510, with a volume of 8,028 shares traded.

Analyst Ratings Changes

Several research firms recently commented on NBTX. UBS Group boosted their price objective on shares of Nanobiotix from $3.50 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Guggenheim boosted their price objective on shares of Nanobiotix from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nanobiotix in a research report on Tuesday, April 21st. Leerink Partners upped their target price on shares of Nanobiotix from $37.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Nanobiotix in a research note on Monday, May 18th. Four 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.33.

Nanobiotix Price Performance

The company’s fifty day moving average is $37.51 and its 200 day moving average is $29.26.

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

Institutional Trading of Nanobiotix

A number of hedge funds have recently made changes to their positions in NBTX. Royal Bank of Canada lifted its stake 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 buying an additional 2,500 shares during the last quarter. Optiver Holding B.V. bought a new stake in Nanobiotix in the third quarter valued at $101,000. Marshall Wace LLP bought a new stake in Nanobiotix in the fourth quarter valued at $220,000. Finally, Millennium Management LLC bought a new stake in Nanobiotix in the fourth quarter valued at $390,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

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.