Nanobiotix stock retreats nearly 3% and falls below its moving averages
The Parisian biotech continues its decline on Tuesday, losing ground in a European market that is itself oriented downward. The decline occurs as both short-term moving averages now weigh above the price, a configuration that contrasts with the exceptional performance accumulated over one year.
A retreat of nearly 3% that places the security below its short-term moving averages
Nanobiotix declines 2.88% during the session, to €33.70, while the SBF 120 falls by 0.5% and the CAC 40 by 0.51%. The security is thus among the steepest declines of the SBF 120, in a context of slight easing of European markets. The 20-day MA at €34.97 and the 50-day MA at €34.04 are both above the price, with respective gaps of 3.63% and 1.00%, a configuration that materializes the reversal initiated since the high of last week.
The RSI at 50 remains neutral, with no oversold or overbought signals. The support at €32.30 constitutes the floor to monitor in case of continued decline, while the resistance at €38.60 remains distant. The 200-day MA, on the other hand, remains well below the price at €27.35 (gap of +23.22%), which testifies to the magnitude of the gains accumulated over one year: the security still shows +329.3% over twelve months, after a period of high volatility.
A turbulent week for Nanobiotix, listed on both Paris and Nasdaq
The biotech went through a particularly tumultuous week: a decline of more than 5% on Friday, August 28 had followed a jump of nearly 6% on Thursday, August 27, illustrating volatility over one month that reaches 24.77. Over seven days, the balance is negative: -1.29%, and over one month the security is nearly flat (-0.06%). Nanobiotix is listed on both Euronext Paris (NANO) and Nasdaq (NBTX in ADS form, at a 1 to 1 ratio).
The two lines evolve in a largely correlated manner, which means that overnight movements on the Nasdaq can partially impact the Paris price at opening. The Paris ordinary share is eligible for the PEA, unlike the American ADS. The analyst consensus on the security remains to be monitored in this context of marked oscillations, with the price having fallen back below its two short-term moving averages.
