Nanobiotix (NASDAQ:NBTX) Shares Down 5.5% – Here’s Why

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX)’s share price fell 5.5% during trading on Tuesday . The stock traded as low as $32.20 and last traded at $32.1190. 26,579 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 39,008 shares. The stock had previously closed at $34.00.

Wall Street Analyst Weigh In

A number of analysts have commented on NBTX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nanobiotix in a report on Thursday, January 22nd. TD Cowen restated a “buy” rating on shares of Nanobiotix in a report on Thursday. Guggenheim upped their target price on shares of Nanobiotix from $8.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Finally, Leerink Partners reaffirmed an “outperform” rating on shares of Nanobiotix in a research note on Tuesday, November 25th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Nanobiotix Trading Down 4.9%

The company’s 50 day moving average price is $25.44 and its 200 day moving average price is $21.44.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of Nanobiotix by 2,000.0% during the 4th quarter. Royal Bank of Canada now owns 2,625 shares of the company’s stock valued at $61,000 after acquiring an additional 2,500 shares during the last quarter. Optiver Holding B.V. purchased a new position in shares of Nanobiotix in the third quarter valued at approximately $101,000. Marshall Wace LLP purchased a new position in Nanobiotix in the fourth quarter valued at $220,000. Finally, Millennium Management LLC purchased a new stake in shares of Nanobiotix during the fourth quarter worth approximately $390,000. Hedge funds and other institutional investors 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.