Nanobiotix (NASDAQ:NBTX) Stock Price Down 5.7% – Here’s What Happened

Shares of Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX) traded down 5.7% during mid-day trading on Tuesday . The company traded as low as $35.01 and last traded at $34.99. 10,073 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 60,093 shares. The stock had previously closed at $37.12.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. UBS Group upped their price objective on shares of Nanobiotix from $3.50 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Leerink Partners upped their price objective on shares of Nanobiotix from $37.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. TD Cowen reaffirmed a “buy” rating on shares of Nanobiotix in a research report on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nanobiotix in a research report on Tuesday, April 21st. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Nanobiotix in a research report on Monday, May 18th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.33.

Nanobiotix Price Performance

The stock’s 50 day simple moving average is $37.91 and its two-hundred day simple moving average is $29.79.

Nanobiotix (NASDAQ:NBTX) last released its earnings results on Sunday, February 15th. The company reported ($0.23) earnings per share for the quarter. The business had revenue of $3.42 million for the quarter. As a group, equities research analysts anticipate that Nanobiotix S.A. – Sponsored ADR will post 0.19 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC purchased a new position in Nanobiotix in the fourth quarter valued at about $390,000. Royal Bank of Canada lifted its stake in shares of Nanobiotix by 2,000.0% during the 4th quarter. Royal Bank of Canada now owns 2,625 shares of the company’s stock valued at $61,000 after buying an additional 2,500 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Nanobiotix during the 4th quarter valued at approximately $220,000. Finally, Optiver Holding B.V. purchased a new stake in shares of Nanobiotix during the 3rd quarter valued at approximately $101,000. 38.81% of the stock is currently owned by hedge funds and other institutional investors.

Nanobiotix Company Profile

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.