Nanobiotix (NASDAQ:NBTX) Stock Price Up 7.2% – Here’s What Happened

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX)’s stock price was up 7.2% during mid-day trading on Tuesday . The company traded as high as $42.30 and last traded at $41.9590. Approximately 24,010 shares changed hands during trading, a decline of 63% from the average daily volume of 65,190 shares. The stock had previously closed at $39.15.

Analyst Ratings Changes

Several brokerages have weighed in on NBTX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nanobiotix in a report on Tuesday, April 21st. Leerink Partners increased their target price on Nanobiotix from $37.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. Guggenheim raised their price target on Nanobiotix from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. HC Wainwright reaffirmed a “buy” rating on shares of Nanobiotix in a research note on Monday, May 18th. Finally, UBS Group upped their price objective on shares of Nanobiotix from $3.50 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Four research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.33.

Nanobiotix Stock Performance

The firm’s 50-day simple moving average is $39.91 and its 200 day simple moving average is $32.04.

Hedge Funds Weigh In On Nanobiotix

Institutional investors have recently modified their holdings of the business. Millennium Management LLC acquired a new stake in Nanobiotix in the fourth quarter valued at about $390,000. Marshall Wace LLP bought a new position in Nanobiotix in the fourth quarter valued at about $220,000. Finally, Royal Bank of Canada raised its stake 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 acquiring an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 38.81% of the company’s stock.

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.