Nanobiotix (NASDAQ:NBTX) Shares Gap Down - Time to Sell?

Key Points

• Nanobiotix shares fell 8%: The stock opened at $40.72 after closing at $43.55 and last traded near $39.80, below its $46.00 analyst high target.
• Analyst views are mixed: Four analysts rate the stock Buy, one rates it Hold and one rates it Sell, resulting in a consensus “Moderate Buy” rating and average price target of $37.33.
• Institutional ownership stands at 38.81%: Recent activity included new stakes from Marshall Wace and Millennium Management, while Royal Bank of Canada significantly increased its holdings.

Nanobiotix S.A. - Sponsored ADR (NASDAQ:NBTX - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $43.55, but opened at $40.72. Nanobiotix shares last traded at $39.7950, with a volume of 63,402 shares.

Analysts Set New Price Targets

Several analysts have recently issued reports on NBTX shares. Leerink Partners upped their target price 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. Weiss Ratings reissued a "sell (d-)" rating on shares of Nanobiotix in a research report on Friday, July 17th. HC Wainwright restated a "buy" rating on shares of Nanobiotix in a report on Monday, May 18th. Finally, UBS Group upped their price objective on shares of Nanobiotix from $3.50 to $30.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Nanobiotix has a consensus rating of "Moderate Buy" and an average price target of $37.33.

Nanobiotix Trading Down 8.0%

The stock has a 50-day moving average of $38.64 and a 200 day moving average of $35.46.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Marshall Wace LLP bought a new stake in shares of Nanobiotix during the 4th quarter worth $220,000. Royal Bank of Canada boosted its holdings in shares of Nanobiotix by 2,000.0% in the 4th 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 last quarter. Finally, Millennium Management LLC bought a new position in Nanobiotix during the fourth 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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