Nanobiotix Shares Drop 8.24% to €39.20 After Record High of €47.66

Portzamparc Sets a Target at €35, Below Current Price

On May 18, Portzamparc announced a target of €35 for Nanobiotix, with a 'hold' recommendation. The target is approximately 10.7% below the current session price of €39.20, which sheds light on the profit-taking observed this Tuesday. This movement comes after the release on Sunday of phase 2 data from the CONVERGE study conducted with Johnson & Johnson, showing an overall response rate of 85.7% for the JNJ-1900 candidate in non-small cell lung cancer. The clinical results initially propelled the stock to a record high of €47.66 on Monday, before the decline already began during the session. It is worth noting that the one-year performance is still up 1,017% and the three-month gain is at 71.55%. The current consolidation only erases a fraction of the journey, with the weekly decline remaining limited to 7.2%.

At €39.20, the price remains 16.36% above the MM20 (€33.69) and nearly twice as high as the MM200 (€19.64). The RSI at 68 is exiting the overbought zone where it was last week. The upper Bollinger Band at €47.82, which was nearly touched on Monday during the record high of €47.66, served as a technical ceiling before the reversal. The biotech is the weakest performer in the SBF 120 this Tuesday, with Vallourec (-7.17%) among other notable declines, while the broader index is up 0.63%. The sequence of records (€45.86 on May 14, €47.60 and then €47.66 on Monday, May 18) had pushed the one-month volatility to 24.64. The technical resistance reference is at €46.18, with support at €25.62. In the absence of any scheduled financial events, the next point of reference will be the movement around the MM20 at €33.69, the first technical level below the current price.