Nanobiotix (NASDAQ:NBTX) Stock Price Up 4.6% - Time to Buy?

Key Points

• Nanobiotix shares rose 4.6% to approximately $38.33, with trading volume nearly doubling the average. The stock reached an intraday high of $38.81.
• Analyst sentiment is mixed but leans positive: four analysts rate the stock a Buy, one rates it Hold, and one rates it Sell. The consensus rating is “Moderate Buy”, with a $37.33 average price target, while Leerink Partners recently raised its target to $46.
• Nanobiotix is a clinical-stage biotechnology company developing NBTXR3, a nanoparticle-based radioenhancer for cancer treatment. The product has CE Mark approval in Europe for soft tissue sarcoma, and institutional investors own about 38.8% of the shares.

Nanobiotix S.A. - Sponsored ADR (NASDAQ:NBTX - Get Free Report) shares were up 4.6% during trading on Thursday . The company traded as high as $38.81 and last traded at $38.3330. Approximately 168,499 shares traded hands during trading, an increase of 96% from the average daily volume of 86,095 shares. The stock had previously closed at $36.64.

Wall Street Analysts Forecast Growth

NBTX has been the subject of several analyst reports. Leerink Partners increased their price objective on Nanobiotix from $37.00 to $46.00 and gave the stock an "outperform" rating in a research note on Thursday, June 4th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nanobiotix in a research report on Friday, July 17th. Finally, HC Wainwright reiterated a "buy" rating on shares of Nanobiotix in a report on Monday, May 18th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Nanobiotix currently has an average rating of "Moderate Buy" and a consensus price target of $37.33.

Nanobiotix Price Performance

The company's 50 day simple moving average is $39.73 and its 200 day simple moving average is $36.96.

Institutional Trading of Nanobiotix

A number of institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC bought a new stake in Nanobiotix during the fourth quarter worth $390,000. Royal Bank of Canada increased its position in shares of Nanobiotix by 2,000.0% during the 4th quarter. Royal Bank of Canada now owns 2,625 shares of the company's stock valued at $61,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Nanobiotix during the 4th quarter valued at $220,000. 38.81% of the stock is owned by hedge funds and other institutional investors.

Nanobiotix Company Profile

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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