Nanobiotix (NASDAQ:NBTX) Shares Down 5.8% – Time to Sell?

Shares of Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) were down 5.8% on Friday . The company traded as low as $33.86 and last traded at $33.7910. 113,707 shares traded hands during mid-day trading, an increase of 29% from the average session volume of 88,063 shares. The stock had previously closed at $35.88.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NBTX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nanobiotix in a report on Friday, July 17th. Guggenheim initiated coverage on shares of Nanobiotix in a report on Tuesday. They issued a “buy” rating and a $64.00 price objective on the stock. Finally, Leerink Partners increased their price objective on shares of Nanobiotix from $37.00 to $46.00 and gave the stock 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $46.67.

Nanobiotix Price Performance

The business’s 50-day simple moving average is $39.36 and its two-hundred day simple moving average is $37.35.

Nanobiotix Company Profile

Nanobiotix is a clinical-stage biotechnology company focused on developing nanomedicine-based therapies for cancer. The company’s technology is designed to improve the effectiveness of radiotherapy by using nanoparticles that interact with radiation inside tumors, with the goal of enhancing tumor-cell destruction while limiting damage to surrounding healthy tissue.

Its lead product candidate, NBTXR3, is an investigational radioenhancer consisting of functionalized hafnium oxide nanoparticles.