Nanobiotix (NASDAQ:NBTX) Sees Unusually-High Trading Volume – Time to Buy?

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) shares saw unusually-strong trading volume on Tuesday . Approximately 41,187 shares changed hands during trading, an increase of 13% from the previous session’s volume of 36,334 shares.The stock last traded at $40.4970 and had previously closed at $40.13.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. TD Cowen assumed coverage on shares of Nanobiotix in a report on Friday, February 6th. They issued a “buy” rating for the company. Guggenheim lifted their price target on shares of Nanobiotix from $8.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nanobiotix in a research report on Thursday, January 22nd. Finally, Leerink Partners restated an “outperform” rating on shares of Nanobiotix in a research note on Tuesday, November 25th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.00.

Nanobiotix Stock Down 14.0%

The stock has a 50 day simple moving average of $24.79 and a two-hundred day simple moving average of $20.85.

Institutional Trading of Nanobiotix

Several institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its position in Nanobiotix by 2,000.0% during the 4th 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 during the last quarter. Optiver Holding B.V. acquired a new position in Nanobiotix in the third quarter valued at $101,000. Marshall Wace LLP purchased a new stake in shares of Nanobiotix in the fourth quarter valued at about $220,000. Finally, Millennium Management LLC purchased a new stake in shares of Nanobiotix in the fourth quarter valued at about $390,000. Hedge funds and other 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.