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

Key Points

• Nanobiotix shares gapped up before trading, opening at $41.67 after closing at $38.95 and last trading around $40.26, up about 2.8% on the session.
• Recent analyst activity has been broadly positive, with multiple firms raising price targets and issuing buy ratings; the stock currently carries a Moderate Buy consensus and an average target price of $37.33.
• Institutional interest remains notable, as hedge funds and other investors hold 38.81% of the stock, while Nanobiotix continues advancing its cancer-focused lead therapy, NBTXR3, across several clinical programs.

Nanobiotix S.A. - Sponsored ADR (NASDAQ:NBTX - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $38.95, but opened at $41.67. Nanobiotix shares last traded at $40.2640, with a volume of 16,603 shares changing hands.

Analysts Set New Price Targets

NBTX has been the subject of several recent analyst reports. Leerink Partners raised their target price on Nanobiotix from $37.00 to $46.00 and gave the company an "outperform" rating in a research note on Thursday, June 4th. Guggenheim increased their price target on Nanobiotix from $26.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, April 2nd. TD Cowen restated a "buy" rating on shares of Nanobiotix in a research note on Thursday, March 12th. UBS Group raised their price objective on Nanobiotix from $3.50 to $30.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. Finally, HC Wainwright restated a "buy" rating on shares of Nanobiotix in a report on Monday, May 18th. Four equities 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 stock. According to MarketBeat.com, Nanobiotix currently has an average rating of "Moderate Buy" and an average target price of $37.33.

Nanobiotix Trading Up 2.8%

The company's fifty day simple moving average is $39.58 and its two-hundred day simple moving average is $31.55.

Hedge Funds Weigh In On Nanobiotix

A number of hedge funds have recently bought and sold shares of NBTX. Millennium Management LLC bought a new stake in shares of Nanobiotix in the 4th quarter valued at approximately $390,000. Marshall Wace LLP bought a new position in Nanobiotix during the fourth quarter worth $220,000. Finally, Royal Bank of Canada boosted its holdings 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 purchasing an additional 2,500 shares during the period. 38.81% of the stock is currently owned by institutional investors and hedge funds.

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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