Nanobiotix (NASDAQ:NBTX) Shares Up 4.6% – Time to Buy?

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) shares traded up 4.6% on Thursday . The stock traded as high as $38.81 and last traded at $38.3330. 168,499 shares changed hands during trading, an increase of 96% from the average session volume of 86,095 shares. The stock had previously closed at $36.64.

Analyst Upgrades and Downgrades

Several brokerages have commented on NBTX. Leerink Partners lifted 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Nanobiotix in a research report on Friday, July 17th. Finally, HC Wainwright restated 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 given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.33.

Nanobiotix Stock Performance

The firm has a 50 day moving average price of $39.73 and a two-hundred day moving average price of $36.96.

Hedge Funds Weigh In On Nanobiotix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in shares of Nanobiotix by 2,000.0% in the fourth quarter. Royal Bank of Canada now owns 2,625 shares of the company’s stock worth $61,000 after purchasing an additional 2,500 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Nanobiotix during the 4th quarter valued at approximately $220,000. Finally, Millennium Management LLC bought a new position in Nanobiotix in the 4th quarter worth approximately $390,000. Institutional investors 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.