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

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $35.99, but opened at $34.23. Nanobiotix shares last traded at $34.5890, with a volume of 7,465 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NBTX. HC Wainwright reaffirmed a “buy” rating on shares of Nanobiotix in a research report on Monday, May 18th. TD Cowen reaffirmed a “buy” rating on shares of Nanobiotix in a research report on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nanobiotix in a research report on Tuesday, April 21st. Guggenheim raised their target price on Nanobiotix from $26.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Finally, Leerink Partners raised their target price on Nanobiotix from $37.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, June 4th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nanobiotix has an average rating of “Moderate Buy” and a consensus price target of $37.33.

Nanobiotix Stock Down 0.7%

The firm has a fifty day moving average of $37.85 and a two-hundred day moving average of $29.68.

Nanobiotix (NASDAQ:NBTX) last announced its quarterly earnings data on Sunday, February 15th. The company reported ($0.23) earnings per share for the quarter. The company had revenue of $3.42 million during the quarter. As a group, analysts forecast that Nanobiotix S.A. – Sponsored ADR will post 0.19 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NBTX. Royal Bank of Canada grew its holdings in 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 buying an additional 2,500 shares in the last quarter. Optiver Holding B.V. bought a new stake in shares of Nanobiotix during the 3rd quarter valued at about $101,000. Marshall Wace LLP bought a new stake in shares of Nanobiotix during the 4th quarter valued at about $220,000. Finally, Millennium Management LLC bought a new stake in shares of Nanobiotix during the 4th quarter valued at about $390,000. 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.