Nanobiotix (NASDAQ:NBTX) Stock Price Down 7.5% – Here’s What Happened

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) shares dropped 7.5% during mid-day trading on Monday. The company traded as low as $28.60 and last traded at $29.0160. Approximately 18,215 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 95,396 shares. The stock had previously closed at $31.37.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on NBTX shares. Guggenheim started coverage on Nanobiotix in a research note on Tuesday, September 15th. They set a “buy” rating and a $64.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Nanobiotix in a research note on Thursday, October 15th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $46.67.

Nanobiotix Trading Down 8.2%

The business has a fifty day simple moving average of $32.53 and a 200 day simple moving average of $33.73.

About Nanobiotix

Nanobiotix is a biotechnology company developing nanoparticle-based therapies designed to improve the effectiveness of radiotherapy in cancer treatment. The company’s technology uses hafnium oxide nanoparticles that are injected directly into a tumor and activated by ionizing radiation, with the goal of increasing energy deposition within cancer cells while limiting exposure to surrounding tissue.

Nanobiotix’s lead product candidate, NBTXR3, is being evaluated in clinical studies across several cancer types, including locally advanced head and neck cancer and other solid tumors.