Nanobiotix (NASDAQ:NBTX) Stock Price Up 6% – Time to Buy?

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) shot up 6% during mid-day trading on Wednesday . The company traded as high as $43.99 and last traded at $43.99. 168,440 shares changed hands during trading, an increase of 105% from the average session volume of 82,142 shares. The stock had previously closed at $41.51.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group increased their price objective on Nanobiotix from $3.50 to $30.00 and gave the company a “neutral” rating in a report on Friday, May 1st. HC Wainwright restated a “buy” rating on shares of Nanobiotix in a research note on Monday, May 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nanobiotix in a report on Friday, July 17th. Finally, Leerink Partners increased their price target on shares of Nanobiotix from $37.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Nanobiotix presently has an average rating of “Moderate Buy” and an average price target of $37.33.

Nanobiotix Price Performance

The business has a 50-day moving average of $39.15 and a 200-day moving average of $36.07.

Institutional Investors Weigh In On Nanobiotix

Large investors have recently modified their holdings of the company. Royal Bank of Canada grew its position in shares of 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. Marshall Wace LLP purchased a new stake in Nanobiotix in the 4th quarter valued at $220,000. Finally, Millennium Management LLC purchased a new stake in Nanobiotix in the 4th quarter valued at $390,000. 38.81% of the stock is owned by institutional investors and hedge funds.

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.