Nanobiotix (NASDAQ:NBTX) Trading Down 5.4% – Here’s What Happened

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX)’s share price dropped 5.4% on Monday . The company traded as low as $35.31 and last traded at $35.7650. 73,088 shares were traded during mid-day trading, an increase of 8% from the average session volume of 67,545 shares. The stock had previously closed at $37.79.

Analyst Ratings Changes

A number of brokerages recently commented on NBTX. HC Wainwright reaffirmed a “buy” rating on shares of Nanobiotix in a report on Monday, May 18th. Guggenheim boosted their price objective on Nanobiotix from $26.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Nanobiotix in a research report on Friday. Leerink Partners lifted 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. Finally, UBS Group boosted their target price on Nanobiotix from $3.50 to $30.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Nanobiotix has an average rating of “Moderate Buy” and an average target price of $37.33.

Nanobiotix Price Performance

The business has a 50 day simple moving average of $39.12 and a two-hundred day simple moving average of $32.46.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its holdings in Nanobiotix by 2,000.0% during the 4th quarter. Royal Bank of Canada now owns 2,625 shares of the company’s stock valued at $61,000 after buying an additional 2,500 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Nanobiotix during the fourth quarter worth approximately $220,000. Finally, Millennium Management LLC purchased a new position in shares of Nanobiotix during the fourth quarter worth approximately $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.