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

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $38.65, but opened at $36.54. Nanobiotix shares last traded at $35.04, with a volume of 37,318 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nanobiotix in a research note on Thursday, January 22nd. Leerink Partners reaffirmed an “outperform” rating on shares of Nanobiotix in a report on Tuesday, November 25th. TD Cowen began coverage on Nanobiotix in a research report on Friday, February 6th. They set a “buy” rating for the company. Finally, Guggenheim increased their target price on Nanobiotix from $8.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Nanobiotix Stock Performance

The firm has a 50 day simple moving average of $24.59 and a two-hundred day simple moving average of $20.77.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NBTX. Royal Bank of Canada raised its stake 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 in the last quarter. Optiver Holding B.V. acquired a new position in shares of Nanobiotix during the third quarter worth $101,000. Marshall Wace LLP acquired a new stake in shares of Nanobiotix during the 4th quarter valued at $220,000. Finally, Millennium Management LLC acquired a new stake in shares of Nanobiotix during the fourth quarter worth $390,000. 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.