Guggenheim Increases Nanobiotix (NASDAQ:NBTX) Price Target to $36.00

Nanobiotix (NASDAQ:NBTX) had its target price raised by Guggenheim from $26.00 to $36.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s price objective suggests a potential upside of 16.47% from the company’s previous close.

A number of other research analysts have also recently issued reports on NBTX. TD Cowen reissued a “buy” rating on shares of Nanobiotix in a report on Thursday, March 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nanobiotix in a research report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.00.

Nanobiotix Stock Down 9.3%

NASDAQ NBTX traded down $3.16 during trading on Thursday, reaching $30.91. 17,065 shares of the company traded hands, compared to its average volume of 45,822. Nanobiotix has a 1-year low of $2.99 and a 1-year high of $41.89. The stock’s 50 day moving average price is $27.90 and its two-hundred day moving average price is $23.20.

Nanobiotix (NASDAQ:NBTX) last posted its earnings results on Sunday, February 15th. The company reported ($0.23) EPS for the quarter. The company had revenue of $3.42 million during the quarter. Equities analysts forecast that Nanobiotix will post -1.18 earnings per share for the current fiscal year.

Institutional Trading of Nanobiotix

Hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC acquired a new stake in Nanobiotix in the fourth quarter worth about $390,000. Royal Bank of Canada grew its position in shares of Nanobiotix by 2,000.0% during the 4th quarter. Royal Bank of Canada now owns 2,625 shares of the company’s stock worth $61,000 after buying an additional 2,500 shares during the period. Marshall Wace LLP acquired a new position in Nanobiotix in the fourth quarter valued at approximately $220,000. Finally, Optiver Holding B.V. acquired a new position in Nanobiotix in the third quarter valued at approximately $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.