Nanobiotix (NASDAQ:NBTX) Sets New 1-Year High – Should You Buy?

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX)’s share price reached a new 52-week high during trading on Saturday . The company traded as high as $31.62 and last traded at $31.04, with a volume of 86067 shares. The stock had previously closed at $27.51.

Analysts Set New Price Targets

NBTX has been the topic of a number of recent research reports. TD Cowen assumed coverage on Nanobiotix in a research report on Friday, February 6th. They issued a “buy” rating on the stock. Guggenheim raised their price target on Nanobiotix from $8.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nanobiotix in a research report on Thursday, January 22nd. Leerink Partners reissued an “outperform” rating on shares of Nanobiotix in a report on Tuesday, November 25th. Finally, HC Wainwright restated a “buy” rating on shares of Nanobiotix in a report on Tuesday, November 4th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Nanobiotix Price Performance

The stock has a 50-day moving average price of $22.88 and a 200-day moving average price of $19.32.

Hedge Funds Weigh In On Nanobiotix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBTX. Millennium Management LLC bought a new position in shares of Nanobiotix in the fourth quarter valued at about $390,000. Marshall Wace LLP bought a new position in Nanobiotix in the 4th quarter valued at about $220,000. Optiver Holding B.V. bought a new position in Nanobiotix in the 3rd quarter valued at about $101,000. Finally, Royal Bank of Canada lifted its position in Nanobiotix by 2,000.0% during the fourth 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 last quarter. 38.81% of the stock is owned by 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.