Nanobiotix (NASDAQ:NBTX) Shares Gap Down – Here’s Why

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $53.55, but opened at $46.64. Nanobiotix shares last traded at $48.0850, with a volume of 37,689 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. UBS Group boosted their target price on Nanobiotix from $3.50 to $30.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. TD Cowen reissued a “buy” rating on shares of Nanobiotix in a research report on Thursday, March 12th. Guggenheim raised their price target on shares of Nanobiotix from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nanobiotix in a research note on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.67.

Nanobiotix Price Performance

The stock’s 50-day moving average price is $33.49 and its 200 day moving average price is $25.90.

Nanobiotix (NASDAQ:NBTX) last announced its earnings results on Sunday, February 15th. The company reported ($0.23) EPS for the quarter. The company had revenue of $3.42 million for the quarter. On average, sell-side analysts forecast that Nanobiotix S.A. – Sponsored ADR will post 0.53 EPS for the current year.

Institutional Inflows and Outflows

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

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.