Nanobiotix (NASDAQ:NBTX) Shares Gap Down – What’s Next?

Shares of Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) gapped down prior to trading on Wednesday . The stock had previously closed at $38.65, but opened at $36.54. Nanobiotix shares last traded at $35.04, with a volume of 37,318 shares.

Analysts Set New Price Targets

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

Nanobiotix Stock Down 11.6%

The company’s fifty day moving average price is $24.59 and its two-hundred day moving average price is $20.77.

Institutional Investors Weigh In On Nanobiotix

A number of institutional investors and hedge funds have recently modified their holdings of NBTX. Millennium Management LLC bought a new position in Nanobiotix during the fourth quarter worth about $390,000. Marshall Wace LLP bought a new position in shares of Nanobiotix during the 4th quarter worth approximately $220,000. Optiver Holding B.V. acquired a new position in shares of Nanobiotix during the 3rd quarter worth approximately $101,000. Finally, Royal Bank of Canada boosted its position in Nanobiotix by 2,000.0% during the fourth 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. 38.81% of the stock is owned by 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.