Nanobiotix (NASDAQ:NBTX) Sees Strong Trading Volume – Should You Buy?

Shares of Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) saw an uptick in trading volume on Tuesday . 113,522 shares changed hands during mid-day trading, an increase of 124% from the previous session’s volume of 50,586 shares.The stock last traded at $32.7780 and had previously closed at $33.11.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on NBTX shares. Guggenheim upped their price target on Nanobiotix from $26.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. TD Cowen reissued a “buy” rating on shares of Nanobiotix in a research note on Thursday, March 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nanobiotix in a report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.00.

Nanobiotix Stock Performance

The firm’s 50-day moving average is $31.69 and its 200-day moving average is $25.31.

Nanobiotix (NASDAQ:NBTX) last issued its quarterly earnings data on Sunday, February 15th. The company reported ($0.23) EPS for the quarter. The business had revenue of $3.42 million for the quarter. As a group, research analysts forecast that Nanobiotix S.A. – Sponsored ADR will post 0.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Nanobiotix

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in Nanobiotix by 2,000.0% in the fourth quarter. Royal Bank of Canada now owns 2,625 shares of the company’s stock worth $61,000 after purchasing an additional 2,500 shares in the last quarter. Optiver Holding B.V. bought a new stake in shares of Nanobiotix during the 3rd quarter valued at $101,000. Marshall Wace LLP bought a new stake in shares of Nanobiotix during the 4th quarter valued at $220,000. Finally, Millennium Management LLC purchased a new stake in shares of Nanobiotix in the 4th quarter worth about $390,000. 38.81% of the stock is currently owned by institutional investors.

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.