Nanobiotix (NASDAQ:NBTX) Shares Gap Down – Here’s What Happened

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $38.19, but opened at $35.45. Nanobiotix shares last traded at $36.53, with a volume of 5,813 shares.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NBTX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nanobiotix in a report on Friday, July 17th. HC Wainwright reissued a “buy” rating on shares of Nanobiotix in a research note on Monday, May 18th. Finally, Leerink Partners boosted their target price on Nanobiotix from $37.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Nanobiotix presently has a consensus rating of “Moderate Buy” and an average price target of $37.33.

Nanobiotix Stock Down 5.5%

The firm’s 50-day moving average price is $39.79 and its two-hundred day moving average price is $36.88.

Hedge Funds Weigh In On Nanobiotix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake 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 purchasing an additional 2,500 shares during the period. Marshall Wace LLP acquired a new stake in shares of Nanobiotix in the fourth quarter worth $220,000. Finally, Millennium Management LLC acquired a new stake in shares of Nanobiotix in the fourth quarter worth $390,000. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

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.