Nanobiotix (NASDAQ:NBTX) Shares Up 12.5% – Time to Buy?

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) shares shot up 12.5% during mid-day trading on Wednesday . The stock traded as high as $38.75 and last traded at $39.1010. 20,305 shares were traded during trading, a decline of 63% from the average session volume of 54,438 shares. The stock had previously closed at $34.77.

Analysts Set New Price Targets

Several research firms have issued reports on NBTX. TD Cowen reaffirmed a “buy” rating on shares of Nanobiotix in a report on Thursday, March 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Nanobiotix in a research 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 research report on Thursday, April 2nd. Finally, 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 research report on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Nanobiotix has an average rating of “Moderate Buy” and a consensus price target of $26.67.

Nanobiotix Stock Performance

The company’s 50-day moving average is $32.58 and its 200-day moving average is $25.53.

Nanobiotix (NASDAQ:NBTX) last released its quarterly earnings data 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. Analysts predict that Nanobiotix S.A. – Sponsored ADR will post 0.53 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of NBTX. Optiver Holding B.V. purchased a new position in Nanobiotix during the third quarter worth about $101,000. Marshall Wace LLP purchased a new position in Nanobiotix during the fourth quarter worth about $220,000. Royal Bank of Canada boosted its stake 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 during the period. Finally, Millennium Management LLC purchased a new position in Nanobiotix during the fourth quarter worth about $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.