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

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $34.07, but opened at $31.03. Nanobiotix shares last traded at $30.8590, with a volume of 14,146 shares changing hands.

Analysts Set New Price Targets

NBTX has been the topic of a number of analyst reports. Guggenheim lifted their target price on shares of Nanobiotix from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday. TD Cowen reaffirmed a “buy” rating on shares of Nanobiotix in a research note on Thursday, March 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nanobiotix in a report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Nanobiotix currently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

Nanobiotix Stock Down 6.1%

The firm’s 50 day moving average is $27.90 and its 200 day moving average is $23.20.

Nanobiotix (NASDAQ:NBTX) last announced its quarterly earnings results on Sunday, February 15th. The company reported ($0.23) earnings per share (EPS) for the quarter. The business had revenue of $3.42 million for the quarter. As a group, analysts anticipate that Nanobiotix S.A. – Sponsored ADR will post -1.18 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Millennium Management LLC bought a new position in Nanobiotix during the 4th quarter valued at approximately $390,000. Marshall Wace LLP bought a new stake in shares of Nanobiotix in the 4th quarter worth approximately $220,000. Optiver Holding B.V. purchased a new position in shares of Nanobiotix during the third quarter valued at approximately $101,000. Finally, Royal Bank of Canada raised its holdings in shares of Nanobiotix by 2,000.0% during the fourth 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 in the last quarter. Hedge funds and other 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.