Nanobiotix (NASDAQ:NBTX) Sees Strong Trading Volume - Here's Why

Key Points

• Nanobiotix shares saw a sharp volume spike, with 138,932 shares trading Friday, up 108% from the prior session, while the stock traded around $37.47.
• Wall Street sentiment is mixed but mostly positive: several analysts recently raised targets or reiterated bullish views, and the stock currently carries an average Moderate Buy rating with a $37.33 average price target.
• The company is a clinical-stage biotech focused on cancer treatment, led by its NBTXR3 radioenhancer, which has already received CE Mark approval in Europe for soft tissue sarcoma.

Shares of Nanobiotix S.A. - Sponsored ADR (NASDAQ:NBTX - Get Free Report) saw an uptick in trading volume on Friday . 138,932 shares traded hands during mid-day trading, an increase of 108% from the previous session's volume of 66,787 shares.The stock last traded at $37.47 and had previously closed at $37.53.

Analyst Upgrades and Downgrades

NBTX has been the subject of a number of research analyst reports. HC Wainwright reiterated a "buy" rating on shares of Nanobiotix in a research report on Monday, May 18th. Leerink Partners upped their price objective on shares of Nanobiotix from $37.00 to $46.00 and gave the stock an "outperform" rating in a research report on Thursday, June 4th. UBS Group raised their target price on shares of Nanobiotix from $3.50 to $30.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. Guggenheim lifted their target price on shares of Nanobiotix from $26.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, April 2nd. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Nanobiotix in a research note on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $37.33.

Nanobiotix Stock Performance

The company has a 50 day simple moving average of $39.81 and a 200-day simple moving average of $32.14.

Hedge Funds Weigh In On Nanobiotix

A number of large investors have recently modified their holdings of NBTX. Royal Bank of Canada boosted its stake in Nanobiotix by 2,000.0% in 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 in the last quarter. Marshall Wace LLP purchased a new position in shares of Nanobiotix during the fourth quarter worth approximately $220,000. Finally, Millennium Management LLC bought a new stake in shares of Nanobiotix in the 4th quarter worth approximately $390,000. 38.81% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.