Nanobiotix (NASDAQ:NBTX) Sees Large Volume Increase – Time to Buy?

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) shares saw unusually-high trading volume on Friday . Approximately 138,932 shares were traded during mid-day trading, an increase of 108% from the previous session’s volume of 66,787 shares.The stock last traded at $37.47 and had previously closed at $37.53.

Analyst Ratings Changes

NBTX has been the topic of several analyst reports. HC Wainwright reissued a “buy” rating on shares of Nanobiotix in a research report on Monday, May 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nanobiotix in a research note on Tuesday, April 21st. Leerink Partners lifted their price objective on shares of Nanobiotix from $37.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Guggenheim boosted their target price on shares of Nanobiotix from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Finally, UBS Group increased their target price on Nanobiotix from $3.50 to $30.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.33.

Nanobiotix Stock Performance

The business’s fifty day moving average price is $39.65 and its two-hundred day moving average price is $32.18.

Hedge Funds Weigh In On Nanobiotix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in Nanobiotix by 2,000.0% in the 4th quarter. Royal Bank of Canada now owns 2,625 shares of the company’s stock worth $61,000 after acquiring an additional 2,500 shares during the period. Marshall Wace LLP acquired a new position in shares of Nanobiotix during the 4th quarter worth about $220,000. Finally, Millennium Management LLC bought a new stake in Nanobiotix during the 4th quarter valued at approximately $390,000. Institutional investors and hedge funds own 38.81% of the company’s stock.

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.