Nanobiotix (NASDAQ:NBTX) Stock Price 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.

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

Analyst Upgrades and Downgrades

Separately, Guggenheim dropped their target price on Nanobiotix from $12.00 to $8.00 and set a "buy" rating on the stock in a report on Friday, April 4th.

Nanobiotix Price Performance

The stock's 50 day moving average is $4.88 and its 200-day moving average is $3.96.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NBTX. OLD Mission Capital LLC purchased a new stake in shares of Nanobiotix during the fourth quarter valued at approximately $139,000. Geode Capital Management LLC bought a new position in Nanobiotix in the 4th quarter valued at approximately $29,000. Jane Street Group LLC purchased a new stake in Nanobiotix during the 4th quarter valued at $73,000. Finally, Millennium Management LLC purchased a new stake in Nanobiotix during the 4th quarter valued at $39,000. Institutional investors own 38.81% of the company's stock.

Nanobiotix Company Profile

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.

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