Nanobiotix (NASDAQ:NBTX) Trading Up 2.9% - Should You Buy?

Key Points

• Nanobiotix's stock price rose by 2.9% to $6.85, with a trading volume of 7,308 shares, indicating increased investor interest.
• Guggenheim downgraded its target price for Nanobiotix from $12.00 to $8.00 while maintaining a "buy" rating on the stock.
• Recently, several institutional investors acquired stakes in Nanobiotix, indicating a growing confidence in the company's potential within the biotechnology sector.

Shares of Nanobiotix S.A. Sponsored ADR (NASDAQ:NBTX - Get Free Report) were up 2.9% during trading on Tuesday . The stock traded as high as $7.15 and last traded at $6.85. Approximately 7,308 shares traded hands during mid-day trading, an increase of 14% from the average daily volume of 6,387 shares. The stock had previously closed at $6.65.

Analyst Ratings Changes

Separately, Guggenheim lowered their price objective on shares of Nanobiotix from $12.00 to $8.00 and set a "buy" rating on the stock in a research report on Friday, April 4th.

Nanobiotix Price Performance

The firm's 50-day simple moving average is $5.06 and its 200 day simple moving average is $4.03.

Hedge Funds Weigh In On Nanobiotix

Large investors have recently modified their holdings of the business. Millennium Management LLC purchased a new position in shares of Nanobiotix in the fourth quarter worth about $39,000. Jane Street Group LLC purchased a new position in shares of Nanobiotix in the fourth quarter worth about $73,000. Geode Capital Management LLC purchased a new position in shares of Nanobiotix in the fourth quarter worth about $29,000. Finally, OLD Mission Capital LLC purchased a new position in shares of Nanobiotix in the fourth quarter worth about $139,000. Hedge funds and other institutional investors own 38.81% of the company's stock.

About Nanobiotix

Nanobiotix SA, a clinical-stage biotechnology, focuses on developing product candidates for the treatment of cancer and other unmet medical needs. Its lead product candidate is NBTXR3, a sterile aqueous suspension of crystalline hafnium oxide nanoparticles used for the treatment of soft tissue sarcoma, head and neck cancers, liver cancers, prostate cancer, pancreatic cancer, esophageal cancer, rectal cancer, and non-small cell lung cancer.