Nanobiotix (NASDAQ:NBTX) Shares Gap Up – Should You Buy?

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) gapped up before the market opened on Tuesday . The stock had previously closed at $36.18, but opened at $39.27. Nanobiotix shares last traded at $39.7310, with a volume of 23,368 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NBTX. Weiss Ratings reissued a “sell (d-)” rating on shares of Nanobiotix in a research note on Friday, July 17th. Leerink Partners upped their target price on Nanobiotix from $37.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. UBS Group increased their price target on Nanobiotix from $3.50 to $30.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Finally, HC Wainwright reissued a “buy” rating on shares of Nanobiotix in a research 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.33.

Nanobiotix Stock Up 7.5%

The stock has a fifty day simple moving average of $37.61 and a 200-day simple moving average of $34.21.

Institutional Investors Weigh In On Nanobiotix

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace LLP bought a new position in Nanobiotix during the fourth quarter worth $220,000. Royal Bank of Canada grew its position in Nanobiotix by 2,000.0% in the 4th 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 during the last quarter. Finally, Millennium Management LLC bought a new position in shares of Nanobiotix during the 4th quarter worth about $390,000. Institutional investors and hedge funds 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.