Nanobiotix S.A (NBTX) | News Based Sentiment Analysis

• On October 1, 2025, Leerink Partners significantly raised its price target for Nanobiotix (NASDAQ:NBTX) from $14.00 to $24.00 while maintaining an Outperform rating, following the company’s first-half 2025 results and pipeline update. This optimism was fueled by progress with NBTXR3 (JNJ-1900), developed with Johnson & Johnson, and the reinforcement of intellectual property through a new patent filing.
• Despite the positive analyst update, Nanobiotix shares traded lower by 16.4% to $5.14 on October 1, 2025, after pricing a global follow-on offering of 3,106,907 American Depositary Shares (ADSs). This suggests the market reacted negatively to the dilution from the offering, even with the promising clinical data.
• Short interest in Nanobiotix S.A. Sponsored ADR (NASDAQ:NBTX) decreased substantially by 53.2% in September, falling to 11,000 shares from 23,500 shares in August. This reduction in short selling, coupled with a short-interest ratio of 0.4 days based on an average trading volume of 26,300 shares, indicates growing confidence in the stock.
• Nanobiotix reported improved first-half financial results on October 2, 2025, with a loss of 12 cents per share, a significant improvement compared to the 50-cent loss in the prior year. The stock had also gained approximately 122% over the past month and reached a 52-week high of $21.00, demonstrating strong momentum.
• On October 2, 2025, Nanobiotix shares gapped up in pre-market trading, opening at $20.79 after closing at $18.74 the previous day. Trading volume reached 83,068 shares, and institutional investors held 38.81% of the stock, suggesting continued institutional support.
• Promising Phase 1 trial results for JNJ-1900 (NBTXR3) in recurrent/metastatic HNSCC were announced, and updated data from cohorts 1 and 2 was presented at the 2025 American Society for Radiation Oncology (ASTRO) Annual Meeting. A data update from the MD Anderson collaboration evaluating NBTXR3 in esophageal cancer is scheduled for Wednesday at ASTRO 2025.

The Investment Story: October proved to be a month of contrasts for Nanobiotix, marked by positive clinical data and analyst upgrades alongside a dilutive follow-on offering. Despite the short-term stock dip from the offering, the underlying momentum appears strong, driven by promising trial results and decreasing short interest.

What It Means for Investors: The combination of positive clinical developments and a reduction in short interest suggests potential for continued upside, but investors should be aware of the dilution from the recent offering. The upcoming data presentation at ASTRO 2025 will be a key catalyst to watch.

Looking Ahead: Investors should closely monitor the data update from the MD Anderson collaboration at ASTRO 2025 and assess the impact of the follow-on offering on long-term shareholder value. Continued positive clinical trial results will be crucial for sustaining the stock's momentum.

The Bottom Line: Nanobiotix remains a high-risk, high-reward investment. While the recent offering introduces short-term volatility, the company's promising pipeline and improving financial performance suggest potential for significant gains if clinical trials continue to deliver positive results.