Nanobiotix (NASDAQ:NBTX) Shares Down 4.7% – Here’s What Happened

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX)’s stock price traded down 4.7% during trading on Thursday . The company traded as low as $39.65 and last traded at $39.7250. Approximately 50,929 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 85,269 shares. The stock had previously closed at $41.67.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NBTX. HC Wainwright restated a “buy” rating on shares of Nanobiotix in a report on Monday, May 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nanobiotix in a report on Friday, July 17th. Finally, Leerink Partners raised their price target on Nanobiotix from $37.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Nanobiotix has a consensus rating of “Moderate Buy” and an average target price of $37.33.

Nanobiotix Price Performance

The firm’s fifty day moving average price is $39.55 and its 200-day moving average price is $36.52.

Institutional Trading of Nanobiotix

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC purchased a new stake in shares of Nanobiotix in the 4th quarter valued at about $390,000. Royal Bank of Canada increased 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 buying an additional 2,500 shares during the period. Finally, Marshall Wace LLP acquired a new position in Nanobiotix during the fourth quarter worth approximately $220,000. Institutional investors and hedge funds 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.