Nanobiotix (NASDAQ:NBTX) Stock Price Expected to Rise, Guggenheim Analyst Says

Nanobiotix (NASDAQ:NBTX) had its price target increased by analysts at Guggenheim from $26.00 to $36.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 15.98% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nanobiotix in a research note on Thursday, January 22nd. TD Cowen reissued a “buy” rating on shares of Nanobiotix in a research note on Thursday, March 12th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Nanobiotix has an average rating of “Moderate Buy” and a consensus price target of $25.00.

Nanobiotix Stock Performance

Shares of NBTX stock opened at $31.04 on Thursday. Nanobiotix has a 52-week low of $2.99 and a 52-week high of $41.89. The business’s fifty day moving average is $28.30 and its 200 day moving average is $23.40.

Nanobiotix (NASDAQ:NBTX) last announced 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 during the quarter. As a group, equities research analysts predict that Nanobiotix will post -1.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NBTX. Royal Bank of Canada boosted its holdings 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 buying an additional 2,500 shares during the period. Optiver Holding B.V. bought a new stake in Nanobiotix in the third quarter worth $101,000. Marshall Wace LLP bought a new stake in Nanobiotix in the fourth quarter worth $220,000. Finally, Millennium Management LLC purchased a new position in Nanobiotix during the fourth quarter worth $390,000. 38.81% of the stock is 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.