Nanobiotix Advances 2.09% in the SBF 120, Up 921% Over the Year
The French biotech regains its momentum in mid-session after several days of consolidation. The stock is rising while the broader Paris index is in the red. This movement is still significantly off from the all-time high set in mid-May.
Nanobiotix's rebound outperforms a declining SBF 120 in session
Nanobiotix's stock gains 2.09% to €35.24 at midday, while the SBF 120 drops 0.26%. The stock is among the strongest risers in the SBF 120, in an index pulled down by Dassault Systèmes and Atos. This recovery comes after the previous day's decline, documented in a digestion phase that began since the record on May 18 at €47.66. The annual performance remains exceptional at 921.4%, and the three-month gain is 36.59%. However, the stock is down 4.6% for the week, indicating that the consolidation initiated after the share placement on May 22 is not yet complete. Jefferies had raised its price target from €21.50 to €60 that day, maintaining its buy recommendation.
The stock attempts to recover its 20-day moving average at €36.55
The stock is slightly below its 20-day moving average (MM20) at €36.55, with a gap of 3.58%, making it the next short-term hurdle. Beyond this, the 50-day moving average at €30.94 and the 200-day moving average at €20.69 remain well below current prices, reflecting the strong upward momentum established over the past year. The RSI at 49 has returned to a neutral zone, after the overbought extremes observed in May during the record highs. The technical support identified at €26.34 serves as a safety net in case of an extended decline, while the resistance at €46.18 remains about 31% away from the current price. No major financial events are expected in the very short term, with the market remaining dependent on upcoming clinical data from the JNJ-1900 candidate, developed in partnership with Johnson & Johnson, whose initial results from the CONVERGE study in lung cancer were presented in mid-May.
