Nanobiotix (NASDAQ:NBTX) Shares Gap Down - What's Next?

Key Points

• Nanobiotix shares gapped down ahead of the open, falling from a prior close of $41.64 to an opening price of $40.23 before last trading near $40.36.
• Wall Street sentiment remains generally positive, with four Buy ratings, one Hold, and one Sell; the consensus rating is Moderate Buy with a $37.33 price target.
• The company is a Paris-based clinical-stage biotech focused on its lead cancer therapy NBTXR3, which has already earned CE Mark approval in Europe for soft tissue sarcoma.

Nanobiotix S.A. - Sponsored ADR (NASDAQ:NBTX - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $41.64, but opened at $40.23. Nanobiotix shares last traded at $40.3590, with a volume of 8,484 shares trading hands.

Wall Street Analyst Weigh In

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

Nanobiotix Price Performance

The firm has a 50 day moving average price of $39.95 and a 200 day moving average price of $31.92.

Hedge Funds Weigh In On Nanobiotix

Several large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new position in shares of Nanobiotix in the fourth quarter worth approximately $220,000. Royal Bank of Canada lifted its stake in shares of 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. Finally, Millennium Management LLC purchased a new position in shares of Nanobiotix during the 4th quarter valued at $390,000. Hedge funds and other institutional investors own 38.81% of the company's stock.

Nanobiotix Company Profile

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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