Nanobiotix (NASDAQ:NBTX) Sees Strong Trading Volume – Should You Buy?

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) shares saw strong trading volume on Monday . Approximately 60,917 shares changed hands during trading, a decline of 3% from the previous session’s volume of 62,664 shares.The stock last traded at $39.4320 and had previously closed at $38.40.

Wall Street Analyst Weigh In

NBTX has been the topic of several recent research reports. HC Wainwright reissued a “buy” rating on shares of Nanobiotix in a research note on Monday, May 18th. UBS Group raised their target price on shares of Nanobiotix from $3.50 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Leerink Partners boosted their price target on shares of Nanobiotix from $37.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. TD Cowen reissued a “buy” rating on shares of Nanobiotix in a report on Thursday, March 12th. Finally, Guggenheim raised their price objective on shares of Nanobiotix from $26.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.33.

Nanobiotix Price Performance

The company has a 50-day simple moving average of $39.34 and a 200-day simple moving average of $31.32.

Hedge Funds Weigh In On Nanobiotix

A number of large investors have recently made changes to their positions in NBTX. Royal Bank of Canada boosted its holdings 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 buying an additional 2,500 shares in the last quarter. Marshall Wace LLP purchased a new position in Nanobiotix in the fourth quarter valued at about $220,000. Finally, Millennium Management LLC acquired a new stake in shares of Nanobiotix during the 4th quarter valued at approximately $390,000. Hedge funds and other institutional investors own 38.81% of the company’s stock.

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.