Nanobiotix (NASDAQ:NBTX) Trading Up 6% – Should You Buy?

Shares of Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) traded up 6% on Wednesday . The company traded as high as $43.99 and last traded at $43.99. Approximately 168,440 shares were traded during mid-day trading, an increase of 105% from the average daily volume of 82,142 shares. The stock had previously closed at $41.51.

Wall Street Analyst Weigh In

NBTX has been the topic of several recent research reports. UBS Group upped their target price on shares of Nanobiotix from $3.50 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. HC Wainwright reaffirmed a “buy” rating on shares of Nanobiotix in a research report on Monday, May 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nanobiotix in a research note on Friday, July 17th. Finally, Leerink Partners lifted their target price on Nanobiotix from $37.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.33.

Nanobiotix Stock Performance

The business’s 50 day moving average is $38.80 and its 200 day moving average is $35.73.

Institutional Investors Weigh In On Nanobiotix

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada increased 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 period. Marshall Wace LLP acquired a new position in Nanobiotix during the fourth quarter worth $220,000. Finally, Millennium Management LLC acquired a new position in Nanobiotix during the fourth quarter worth $390,000. 38.81% of the stock is owned by hedge funds and other institutional investors.

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.