Nanobiotix (NASDAQ:NBTX) Shares Gap Up – Still a Buy?

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $39.29, but opened at $41.40. Nanobiotix shares last traded at $41.7010, with a volume of 4,551 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NBTX. HC Wainwright reissued a “buy” rating on shares of Nanobiotix in a research report on Monday, May 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nanobiotix in a research note on Friday, July 17th. Finally, Leerink Partners increased their price objective on shares of Nanobiotix from $37.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Nanobiotix has a consensus rating of “Moderate Buy” and a consensus price target of $37.33.

Nanobiotix Stock Up 2.9%

The company has a 50-day moving average price of $39.41 and a two-hundred day moving average price of $36.40.

Hedge Funds Weigh In On Nanobiotix

A number of institutional investors have recently made changes to their positions in NBTX. Millennium Management LLC acquired a new stake in Nanobiotix during the fourth quarter valued at approximately $390,000. Marshall Wace LLP bought a new position in shares of Nanobiotix during the 4th quarter valued at about $220,000. Finally, Royal Bank of Canada grew its holdings in shares of 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 during the last quarter. 38.81% of the stock is owned by institutional investors and hedge funds.

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.