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

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) shares gapped down before the market opened on Wednesday . The stock had previously closed at $35.99, but opened at $34.23. Nanobiotix shares last traded at $34.5890, with a volume of 7,465 shares changing hands.

Wall Street Analysts Forecast Growth

NBTX has been the subject of a number of research analyst reports. UBS Group lifted their price target on Nanobiotix from $3.50 to $30.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Nanobiotix in a research report on Tuesday, April 21st. TD Cowen restated a “buy” rating on shares of Nanobiotix in a research report on Thursday, March 12th. Guggenheim boosted their target price on Nanobiotix from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Finally, Leerink Partners boosted their target price on Nanobiotix from $37.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.33.

Nanobiotix Price Performance

The company has a 50-day simple moving average of $37.85 and a two-hundred day simple moving average of $29.68.

Nanobiotix (NASDAQ:NBTX) last announced its quarterly earnings data on Sunday, February 15th. The company reported ($0.23) earnings per share for the quarter. The business had revenue of $3.42 million during the quarter. On average, equities research analysts forecast that Nanobiotix S.A. – Sponsored ADR will post 0.19 EPS for the current fiscal year.

Institutional Trading of Nanobiotix

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC bought a new stake in Nanobiotix in the fourth quarter valued at approximately $390,000. Marshall Wace LLP bought a new stake in Nanobiotix in the fourth quarter valued at approximately $220,000. Optiver Holding B.V. bought a new stake in Nanobiotix in the third quarter valued at approximately $101,000. Finally, Royal Bank of Canada lifted its position in Nanobiotix by 2,000.0% in the fourth 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. Institutional investors own 38.81% of the company’s stock.

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.