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

Shares of Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) gapped down before the market opened on Tuesday . The stock had previously closed at $49.48, but opened at $45.93. Nanobiotix shares last traded at $45.1750, with a volume of 10,304 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. HC Wainwright restated a “buy” rating on shares of Nanobiotix in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Nanobiotix in a research note on Tuesday, April 21st. UBS Group boosted their target price on Nanobiotix from $3.50 to $30.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Guggenheim boosted their target price on Nanobiotix from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Finally, TD Cowen reissued a “buy” rating on shares of Nanobiotix in a research note on Thursday, March 12th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.67.

Nanobiotix Price Performance

The stock has a 50 day moving average price of $35.36 and a 200 day moving average price of $27.04.

Nanobiotix (NASDAQ:NBTX) last posted its quarterly earnings data on Sunday, February 15th. The company reported ($0.23) EPS for the quarter. The company had revenue of $3.42 million for the quarter. As a group, analysts expect that Nanobiotix S.A. – Sponsored ADR will post 0.53 earnings per share for the current year.

Hedge Funds Weigh In On Nanobiotix

Large investors have recently modified their holdings of the stock. Optiver Holding B.V. purchased a new position in Nanobiotix in the third quarter worth about $101,000. Marshall Wace LLP purchased a new position in shares of Nanobiotix in the fourth quarter worth $220,000. Royal Bank of Canada raised its stake in shares of Nanobiotix by 2,000.0% in the fourth quarter. Royal Bank of Canada now owns 2,625 shares of the company’s stock worth $61,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Nanobiotix in the fourth quarter worth $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.