Nanobiotix (NASDAQ:NBTX) Stock Price Down 5.4% - What's Next?

Key Points

• Nanobiotix shares fell 5.4% on Monday, trading as low as $35.31 before last changing hands at $35.77, with volume slightly above average.
• Analyst sentiment remains mostly positive, with four Buy ratings, one Hold, and one Sell; the consensus price target is $37.33, while recent targets have been raised by firms including Guggenheim and Leerink Partners.
• Nanobiotix is a clinical-stage biotech focused on cancer treatment, and its lead candidate NBTXR3 has already received CE Mark approval in Europe for soft tissue sarcoma.

Shares of Nanobiotix S.A. - Sponsored ADR (NASDAQ:NBTX - Get Free Report) were down 5.4% on Monday . The company traded as low as $35.31 and last traded at $35.7650. Approximately 73,088 shares were traded during mid-day trading, an increase of 8% from the average session volume of 67,545 shares. The stock had previously closed at $37.79.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. HC Wainwright restated a "buy" rating on shares of Nanobiotix in a report on Monday, May 18th. Guggenheim lifted their price objective on Nanobiotix from $26.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, April 2nd. 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. UBS Group lifted their price target on shares of Nanobiotix from $3.50 to $30.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Nanobiotix in a report on Tuesday, April 21st. Four 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $37.33.

Nanobiotix Stock Performance

The firm has a 50 day moving average of $39.65 and a two-hundred day moving average of $32.25.

Institutional Investors Weigh In On Nanobiotix

Institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC purchased a new stake in shares of Nanobiotix in the 4th quarter valued at about $390,000. Marshall Wace LLP acquired a new position in Nanobiotix during the fourth quarter worth approximately $220,000. Finally, Royal Bank of Canada increased its position in Nanobiotix by 2,000.0% during 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 period. 38.81% of the stock is 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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