Nanobiotix (NASDAQ:NBTX) Shares Down 6.6% - Here's What Happened

Key Points

• Shares were down 6.6% mid-day to about $31.58 on Monday, with volume of ~72,017 shares (+46% vs. average), after a prior close of $33.79.
• Analyst views are mixed—four Buy ratings and one Sell leave a MarketBeat consensus of "Moderate Buy" with a consensus price target of $25.00, though Guggenheim recently raised its target to $36 and maintains a Buy.
• Nannobiotix is a clinical-stage biotech developing NBTXR3 (hafnium oxide radioenhancer) with a CE Mark for soft tissue sarcoma; the company reported Q results of ($0.23) EPS and $3.42M revenue, and analysts expect about -$1.18 EPS for the year.

Shares of Nanobiotix S.A. - Sponsored ADR (NASDAQ:NBTX - Get Free Report) were down 6.6% during mid-day trading on Monday . The company traded as low as $31.50 and last traded at $31.5760. Approximately 72,017 shares traded hands during trading, an increase of 46% from the average daily volume of 49,416 shares. The stock had previously closed at $33.79.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NBTX shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nanobiotix in a report on Thursday, January 22nd. Guggenheim increased their target price on Nanobiotix from $26.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Finally, TD Cowen reiterated a "buy" rating on shares of Nanobiotix in a report on Thursday, March 12th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $25.00.

Nanobiotix Stock Down 5.5%

The company has a fifty day moving average price of $30.35 and a two-hundred day moving average price of $24.74.

Nanobiotix (NASDAQ:NBTX - Get Free Report) last announced its quarterly earnings data on Sunday, February 15th. The company reported ($0.23) earnings per share for the quarter. The firm had revenue of $3.42 million during the quarter. On average, sell-side analysts expect that Nanobiotix S.A. - Sponsored ADR will post -1.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nanobiotix

Several hedge funds have recently modified their holdings of NBTX. Royal Bank of Canada lifted its stake in Nanobiotix by 2,000.0% in the 4th 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 last quarter. Optiver Holding B.V. acquired a new stake in Nanobiotix in the 3rd quarter valued at about $101,000. Marshall Wace LLP acquired a new stake in Nanobiotix in the 4th quarter valued at about $220,000. Finally, Millennium Management LLC acquired a new stake in Nanobiotix in the 4th quarter valued at about $390,000. 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.

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