Nanobiotix (NASDAQ:NBTX) Sees Large Volume Increase – Here’s Why

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) saw unusually-strong trading volume on Friday . Approximately 138,932 shares were traded during mid-day trading, an increase of 108% from the previous session’s volume of 66,787 shares.The stock last traded at $37.47 and had previously closed at $37.53.

Wall Street Analysts Forecast Growth

NBTX has been the subject of several analyst reports. UBS Group upped their price target on shares of Nanobiotix from $3.50 to $30.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. HC Wainwright reiterated a “buy” rating on shares of Nanobiotix in a report on Monday, May 18th. Leerink Partners boosted their target price on Nanobiotix from $37.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Guggenheim increased their target price on Nanobiotix from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nanobiotix in a report on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Nanobiotix currently has an average rating of “Moderate Buy” and an average target price of $37.33.

Nanobiotix Stock Down 0.3%

The firm’s 50 day moving average is $39.81 and its 200 day moving average is $32.14.

Hedge Funds Weigh In On Nanobiotix

A number of hedge funds have recently modified their holdings of NBTX. Royal Bank of Canada raised its stake in shares of Nanobiotix by 2,000.0% during the fourth quarter. Royal Bank of Canada now owns 2,625 shares of the company’s stock valued at $61,000 after acquiring an additional 2,500 shares during the last quarter. Marshall Wace LLP purchased a new position in Nanobiotix during the 4th quarter valued at about $220,000. Finally, Millennium Management LLC purchased a new position in Nanobiotix during the 4th quarter valued at about $390,000. Hedge funds and other institutional investors 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.