Nanobiotix (NASDAQ:NBTX) Shares Gap Down – Here’s Why

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) shares gapped down before the market opened on Tuesday . The stock had previously closed at $49.48, but opened at $45.93. Nanobiotix shares last traded at $45.1750, with a volume of 10,304 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on NBTX. UBS Group boosted their price objective on shares of Nanobiotix from $3.50 to $30.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nanobiotix in a report on Tuesday, April 21st. TD Cowen reaffirmed a “buy” rating on shares of Nanobiotix in a report on Thursday, March 12th. HC Wainwright reaffirmed a “buy” rating on shares of Nanobiotix in a report on Monday. Finally, Guggenheim upped their price target on Nanobiotix from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.67.

Nanobiotix Price Performance

The stock’s 50 day moving average price is $35.36 and its 200-day moving average price is $27.04.

Nanobiotix (NASDAQ:NBTX) last released its earnings results on Sunday, February 15th. The company reported ($0.23) earnings per share (EPS) for the quarter. The company had revenue of $3.42 million during the quarter. As a group, research analysts anticipate that Nanobiotix S.A. – Sponsored ADR will post 0.53 EPS for the current year.

Hedge Funds Weigh In On Nanobiotix

Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC purchased a new position in Nanobiotix during the 4th quarter valued at approximately $390,000. Marshall Wace LLP bought a new stake in shares of Nanobiotix in the 4th quarter worth about $220,000. Royal Bank of Canada increased its stake in Nanobiotix by 2,000.0% during the fourth quarter. Royal Bank of Canada now owns 2,625 shares of the company’s stock worth $61,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Optiver Holding B.V. bought a new stake in Nanobiotix during the third quarter worth approximately $101,000. Hedge funds and other institutional investors own 38.81% of the company’s stock.

About Nanobiotix

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.