Nanobiotix (NASDAQ:NBTX) Stock Price Down 8.4% – Here’s What Happened

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX)’s share price was down 8.4% during mid-day trading on Friday . The company traded as low as $41.00 and last traded at $41.35. Approximately 120,522 shares were traded during trading, an increase of 43% from the average daily volume of 84,377 shares. The stock had previously closed at $45.16.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NBTX. HC Wainwright reaffirmed a “buy” rating on shares of Nanobiotix in a report on Monday, May 18th. Leerink Partners lifted their price target on Nanobiotix from $37.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Nanobiotix in a report on Friday, July 17th. Finally, UBS Group upped their price objective on shares of Nanobiotix from $3.50 to $30.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Four research 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. Based on data from MarketBeat.com, Nanobiotix has a consensus rating of “Moderate Buy” and an average price target of $37.33.

Nanobiotix Price Performance

The business’s 50 day moving average is $39.15 and its 200 day moving average is $36.07.

Institutional Trading of Nanobiotix

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC purchased a new position in shares of Nanobiotix during the fourth quarter valued at $390,000. Marshall Wace LLP purchased a new stake in Nanobiotix in the 4th quarter worth about $220,000. Finally, Royal Bank of Canada lifted its stake in Nanobiotix by 2,000.0% in the 4th 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 in the last quarter. Institutional investors and hedge funds 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.