Nanobiotix (NASDAQ:NBTX) Sees Unusually-High Trading Volume – Should You Buy?

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) saw unusually-strong trading volume on Thursday . 119,459 shares traded hands during mid-day trading, an increase of 45% from the previous session’s volume of 82,617 shares.The stock last traded at $45.05 and had previously closed at $44.50.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Leerink Partners boosted their target price on shares of Nanobiotix from $37.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. HC Wainwright restated a “buy” rating on shares of Nanobiotix in a research note on Monday, May 18th. UBS Group lifted their price objective on Nanobiotix from $3.50 to $30.00 and gave the stock a “neutral” rating in a report on Friday, May 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nanobiotix in a research report on Friday, July 17th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Nanobiotix has an average rating of “Moderate Buy” and an average price target of $37.33.

Nanobiotix Price Performance

The company’s 50-day simple moving average is $38.97 and its two-hundred day simple moving average is $35.90.

Institutional Investors Weigh In On Nanobiotix

Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC purchased a new position in Nanobiotix during the fourth quarter valued at $390,000. Marshall Wace LLP bought a new stake in Nanobiotix during the fourth quarter valued at about $220,000. Finally, Royal Bank of Canada increased its position in 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 buying an additional 2,500 shares in the last quarter. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

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.