Nanobiotix (NASDAQ:NBTX) Sees Large Volume Increase – Time to Buy?

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) shares saw strong trading volume on Friday . 201,869 shares changed hands during trading, an increase of 166% from the previous session’s volume of 75,912 shares.The stock last traded at $38.15 and had previously closed at $38.17.

Analysts Set New Price Targets

A number of equities research analysts have commented on NBTX shares. UBS Group increased their price objective on shares of Nanobiotix from $3.50 to $30.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Leerink Partners boosted their target price on shares of Nanobiotix from $37.00 to $46.00 and gave the stock 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 equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.33.

Nanobiotix Price Performance

The company has a 50 day moving average price of $37.76 and a 200 day moving average price of $34.59.

Institutional Trading of Nanobiotix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC bought a new stake in Nanobiotix during the 4th quarter worth about $390,000. Marshall Wace LLP acquired a new position in Nanobiotix during the 4th quarter valued at about $220,000. Finally, Royal Bank of Canada boosted its stake 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 purchasing an additional 2,500 shares during the last quarter. 38.81% of the stock is currently owned by institutional investors and hedge funds.

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.