Nanobiotix (NASDAQ:NBTX) Shares Gap Down – Here’s What Happened

Nanobiotix S.A. – Sponsored ADR (NASDAQ:NBTX)’s share price gapped down before the market opened on Friday . The stock had previously closed at $31.60, but opened at $30.28. Nanobiotix shares last traded at $29.8750, with a volume of 6,170 shares.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NBTX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nanobiotix in a report on Thursday, January 22nd. Leerink Partners reissued an “outperform” rating on shares of Nanobiotix in a research report on Tuesday, November 25th. TD Cowen restated a “buy” rating on shares of Nanobiotix in a research note on Thursday, March 12th. Finally, Guggenheim raised their target price on Nanobiotix from $8.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.00.

Nanobiotix Stock Down 8.1%

The firm has a fifty day moving average of $26.30 and a two-hundred day moving average of $21.98.

Institutional Investors Weigh In On Nanobiotix

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada raised 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 purchasing an additional 2,500 shares during the period. Optiver Holding B.V. bought a new position in Nanobiotix in the 3rd quarter worth about $101,000. Marshall Wace LLP purchased a new position in Nanobiotix during the 4th quarter valued at about $220,000. Finally, Millennium Management LLC bought a new stake in shares of Nanobiotix during the fourth quarter valued at about $390,000. Hedge funds and other institutional investors 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.