Nanobiotix (NASDAQ:NBTX) Trading Up 19.2% - Here's Why

Key Points

• Nanobiotix's stock price surged by 19.2%, closing at $28.12 after reaching a high of $28.39, with trading volume increasing by 152% compared to its average.
• Wall Street analysts have mixed ratings on Nanobiotix, with a consensus rating of "Hold" and an average price target of $11.00, despite some brokerages issuing a "buy" rating.
• An institutional investor, Millennium Management LLC, recently acquired 13,452 shares of Nanobiotix, indicating increasing interest in the company among institutional investors who own 38.81% of its stock.

Nanobiotix S.A. - Sponsored ADR (NASDAQ:NBTX - Get Free Report)'s stock price was up 19.2% during trading on Monday . The stock traded as high as $28.39 and last traded at $28.12. Approximately 66,671 shares were traded during mid-day trading, an increase of 152% from the average daily volume of 26,420 shares. The stock had previously closed at $23.60.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NBTX. HC Wainwright restated a "buy" rating on shares of Nanobiotix in a research note on Friday, September 19th. Weiss Ratings reissued a "sell (d-)" rating on shares of Nanobiotix in a report on Wednesday, October 8th. Finally, Leerink Partners set a $14.00 price objective on Nanobiotix in a report on Thursday, September 18th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Nanobiotix currently has a consensus rating of "Hold" and an average price target of $11.00.

Nanobiotix Stock Performance

The business has a 50-day moving average price of $12.09 and a 200 day moving average price of $7.03.

Institutional Trading of Nanobiotix

An institutional investor recently bought a new position in Nanobiotix stock. Millennium Management LLC acquired a new position in shares of Nanobiotix S.A. - Sponsored ADR (NASDAQ:NBTX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,452 shares of the company's stock, valued at approximately $39,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.