Nanobiotix (NASDAQ:NBTX) Shares Gap Down – Should You Sell?

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) gapped down before the market opened on Wednesday . The stock had previously closed at $38.19, but opened at $35.45. Nanobiotix shares last traded at $36.53, with a volume of 5,813 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Leerink Partners boosted their target price on shares of Nanobiotix from $37.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nanobiotix in a research report on Friday, July 17th. Finally, HC Wainwright reissued 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 issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.33.

Nanobiotix Stock Performance

The business has a 50-day moving average price of $39.71 and a 200-day moving average price of $37.05.

Institutional Trading of Nanobiotix

Several institutional investors have recently modified their holdings of NBTX. Millennium Management LLC acquired a new position in shares of Nanobiotix during the 4th quarter worth about $390,000. Marshall Wace LLP purchased a new stake in Nanobiotix during the 4th quarter worth approximately $220,000. Finally, Royal Bank of Canada raised its holdings in shares of Nanobiotix by 2,000.0% during the fourth quarter. Royal Bank of Canada now owns 2,625 shares of the company’s stock valued at $61,000 after acquiring an additional 2,500 shares during the last quarter. Institutional investors and hedge funds 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.