Nanobiotix (NASDAQ:NBTX) Trading Down 5.4% – Here’s Why

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX)’s share price fell 5.4% during trading on Monday . The company traded as low as $35.31 and last traded at $35.7650. Approximately 73,088 shares traded hands during mid-day trading, an increase of 8% from the average daily volume of 67,545 shares. The stock had previously closed at $37.79.

Analyst Ratings Changes

Several research analysts have issued reports on NBTX shares. HC Wainwright reissued a “buy” rating on shares of Nanobiotix in a research report on Monday, May 18th. Guggenheim upped their target price on shares of Nanobiotix from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Nanobiotix in a report on Tuesday, April 21st. UBS Group upped their price objective on Nanobiotix from $3.50 to $30.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Finally, Leerink Partners increased their price objective on Nanobiotix from $37.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.33.

Nanobiotix Price Performance

The firm’s 50 day simple moving average is $39.65 and its 200-day simple moving average is $32.25.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in Nanobiotix by 2,000.0% in the fourth quarter. Royal Bank of Canada now owns 2,625 shares of the company’s stock valued at $61,000 after purchasing an additional 2,500 shares during the period. Marshall Wace LLP purchased a new position in shares of Nanobiotix during the 4th quarter worth approximately $220,000. Finally, Millennium Management LLC acquired a new stake in shares of Nanobiotix in the 4th quarter valued at approximately $390,000. 38.81% of the stock is owned by hedge funds and other institutional investors.

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.