Nanobiotix S.A. Sponsored ADR (NASDAQ:NBTX) Sees Significant Growth in Short Interest

Key Points

• Short interest in Nanobiotix S.A. increased by 23.7% in August, rising from 19,000 shares to 23,500 shares, with a days-to-cover ratio of 2.4 days based on average daily trading volume.
• As of now, 0.1% of the company's stock is short sold, indicating a low level of market pessimism about the stock.
• Institutional ownership of Nanobiotix is strong, with 38.81% of the company's stock held by institutional investors, including a recent purchase by Millennium Management LLC.

Nanobiotix S.A. Sponsored ADR (NASDAQ:NBTX - Get Free Report) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 23,500 shares, an increase of 23.7% from the August 15th total of 19,000 shares. Based on an average trading volume of 10,000 shares, the days-to-cover ratio is currently 2.4 days. Approximately 0.1% of the company's shares are sold short. Approximately 0.1% of the company's shares are sold short. Based on an average trading volume of 10,000 shares, the days-to-cover ratio is currently 2.4 days.

Analyst Ratings Changes

Several brokerages have issued reports on NBTX. HC Wainwright restated a "buy" rating on shares of Nanobiotix in a research report on Friday. Leerink Partners set a $14.00 price target on shares of Nanobiotix in a research report on Thursday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $11.00.

Nanobiotix Trading Down 6.0%

Nanobiotix stock traded down $0.74 during mid-day trading on Friday, hitting $11.57. 68,520 shares of the company traded hands, compared to its average volume of 49,053. Nanobiotix has a one year low of $2.76 and a one year high of $13.20. The stock has a fifty day moving average price of $7.97 and a 200-day moving average price of $5.31.

Hedge Funds Weigh In On Nanobiotix

An institutional investor recently bought a new position in Nanobiotix stock. Millennium Management LLC bought a new position in Nanobiotix S.A. Sponsored ADR (NASDAQ:NBTX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 13,452 shares of the company's stock, valued at approximately $39,000. 38.81% of the stock is owned by institutional investors.

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.