Nanobiotix (NASDAQ:NBTX) Shares Gap Down – Time to Sell?

Shares of Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) gapped down prior to trading on Monday . The stock had previously closed at $43.55, but opened at $40.72. Nanobiotix shares last traded at $39.7950, with a volume of 63,402 shares traded.

Analysts Set New Price Targets

NBTX has been the subject of a number of research reports. UBS Group increased their target price on shares of Nanobiotix from $3.50 to $30.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. HC Wainwright reaffirmed a “buy” rating on shares of Nanobiotix in a report on Monday, May 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nanobiotix in a research note on Friday, July 17th. Finally, Leerink Partners increased their price objective on Nanobiotix from $37.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Nanobiotix currently has a consensus rating of “Moderate Buy” and an average target price of $37.33.

Nanobiotix Stock Down 8.0%

The firm has a fifty day moving average of $38.64 and a two-hundred day moving average of $35.46.

Hedge Funds Weigh In On Nanobiotix

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC purchased a new position in shares of Nanobiotix in the fourth quarter worth about $390,000. Royal Bank of Canada raised its position in shares of Nanobiotix by 2,000.0% in the fourth quarter. Royal Bank of Canada now owns 2,625 shares of the company’s stock valued at $61,000 after purchasing an additional 2,500 shares during the period. Finally, Marshall Wace LLP bought a new stake in shares of Nanobiotix in the fourth quarter valued at approximately $220,000. 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.