Nanobiotix (NASDAQ:NBTX) Shares Up 9.7% - Here's Why

Key Points

• Shares were up 9.7%, finishing around $32.11 on Wednesday with roughly 35,838 shares traded—about 15% below the stock's average daily volume.
• Analyst sentiment is mixed-but-positive: MarketBeat shows a consensus rating of "Moderate Buy" (four Buys, one Sell) with an average price target of $20 and notable upgrades such as Guggenheim raising its target to $26.
• Nanobiotix is a clinical-stage biotech whose lead product, NBTXR3, is a hafnium-oxide nanoparticle radioenhancer that has CE Mark approval in Europe for soft tissue sarcoma and is in trials across multiple cancer indications.

Shares of Nanobiotix S.A. - Sponsored ADR (NASDAQ:NBTX - Get Free Report) were up 9.7% during trading on Wednesday . The company traded as high as $31.50 and last traded at $32.11. Approximately 35,838 shares were traded during trading, a decline of 15% from the average daily volume of 42,152 shares. The stock had previously closed at $29.27.

Wall Street Analysts Forecast Growth

NBTX has been the subject of a number of recent analyst reports. Leerink Partners restated an "outperform" rating on shares of Nanobiotix in a report on Tuesday, November 25th. Guggenheim upped their price objective on Nanobiotix from $8.00 to $26.00 and gave the company a "buy" rating in a report on Friday, February 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Nanobiotix in a research report on Thursday, January 22nd. Finally, TD Cowen restated a "buy" rating on shares of Nanobiotix in a research report on Thursday, March 12th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Nanobiotix currently has a consensus rating of "Moderate Buy" and an average price target of $20.00.

Nanobiotix Stock Up 7.0%

The business's 50 day moving average price is $26.67 and its 200-day moving average price is $22.37.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NBTX. Royal Bank of Canada raised 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 valued at $61,000 after buying an additional 2,500 shares during the period. Optiver Holding B.V. purchased a new position in Nanobiotix during the 3rd quarter valued at about $101,000. Marshall Wace LLP acquired a new position in Nanobiotix in the 4th quarter valued at about $220,000. Finally, Millennium Management LLC acquired a new position in Nanobiotix in the 4th quarter valued at about $390,000. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

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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