Nanobiotix (NASDAQ:NBTX) Shares Up 7.2% - Time to Buy?

Key Points

• Nanobiotix shares rose 7.2% in Tuesday trading, reaching as high as $42.30 before last trading around $41.96, though volume was below average.
• Analyst sentiment is mixed but overall constructive: Nanobiotix has a Moderate Buy consensus rating, with four Buy ratings, one Hold, and one Sell, and a consensus price target of $37.33.
• The company is a clinical-stage cancer biotech focused on its lead therapy NBTXR3, a radioenhancer already backed by pivotal trials and CE Mark approval in Europe for soft tissue sarcoma.

Shares of Nanobiotix S.A. - Sponsored ADR (NASDAQ:NBTX - Get Free Report) traded up 7.2% during mid-day trading on Tuesday . The company traded as high as $42.30 and last traded at $41.9590. Approximately 24,010 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 65,190 shares. The stock had previously closed at $39.15.

Wall Street Analysts Forecast Growth

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

Nanobiotix Price Performance

The company's 50-day simple moving average is $39.81 and its 200 day simple moving average is $31.79.

Institutional Investors Weigh In On Nanobiotix

Several institutional investors and hedge funds have recently modified their holdings of NBTX. Marshall Wace LLP acquired a new position in Nanobiotix during the fourth quarter worth $220,000. Royal Bank of Canada lifted its position in shares of 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 during the last quarter. Finally, Millennium Management LLC bought a new stake in shares of Nanobiotix during the 4th quarter worth about $390,000. Institutional investors and hedge funds 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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