Nanobiotix (NASDAQ:NBTX) Shares Up 9.7% – Here’s Why

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) shot up 9.7% during trading on Wednesday . The stock traded as high as $31.50 and last traded at $32.11. 35,838 shares traded hands during mid-day trading, a decline of 15% from the average session volume of 42,152 shares. The stock had previously closed at $29.27.

Analysts Set New Price Targets

NBTX has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nanobiotix in a research note on Thursday, January 22nd. Leerink Partners reissued an “outperform” rating on shares of Nanobiotix in a research report on Tuesday, November 25th. Guggenheim boosted 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. Finally, TD Cowen reiterated a “buy” rating on shares of Nanobiotix in a research note on Thursday, March 12th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.00.

Nanobiotix Stock Up 7.0%

The stock has a 50 day simple moving average of $26.67 and a two-hundred day simple moving average of $22.37.

Hedge Funds Weigh In On Nanobiotix

Hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its position 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 valued at $61,000 after buying an additional 2,500 shares during the last quarter. Optiver Holding B.V. purchased a new stake in Nanobiotix in the third quarter valued at $101,000. Marshall Wace LLP acquired a new position in Nanobiotix in the fourth quarter valued at $220,000. Finally, Millennium Management LLC purchased a new position in shares of Nanobiotix during the fourth quarter worth about $390,000. 38.81% of the stock is currently 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.