Nanobiotix Shares Fall by 2.5%, in the Red on the SBF 120

The Stock Dips Below Its Short-Term Moving Averages with a Notable Monthly Decline

Nanobiotix shares are down 2.34% at €29.26 mid-morning, among the steepest declines on the SBF 120. The stock is now trading below its MM20 (€30.66, a gap of -4.57%) and significantly under its MM50 (€32.59, a gap of -10.22%), confirming short-term selling pressure. The RSI at 44 remains neutral, showing no signs of exhaustion, as the stock approaches its support at €28.28.

The biotech has experienced a decline of over 20% over the month, but still maintains a cushion of about 26% above its MM200 at €23.19, reflecting the magnitude of the annual rally that still exceeds 640%. The session's context does not help: the CAC 40 is down 0.4%, the SBF 120 by 0.42%, as the U.S. PCE figures released the previous day rekindle fears of a persistently restrictive Fed. This is an unfavorable setup for unprofitable growth stocks like biotechs.

Consolidation Phase Continues Following Capital Increase and Phase 2 Data

The ongoing decline follows a busy period for the group starting in early June. The biotech had bolstered its cash reserves through a capital increase of €86.1 million on June 3, while its net cash stood at €42.1 million as of March 31, 2026, and presented Phase 2 data deemed encouraging for JNJ-1900 (NBTXR3) in inoperable lung cancer. During the first quarter 2026 release (on June 2), the company listed among its opportunities the advancement of clinical studies on this molecule and the strengthening of its Nanoprimer platform, while highlighting the limitations of the current standard of care in inoperable NSCLC as the main risk.

The stock is also penalized by the classic post-capital increase mechanism, which dilutes existing shareholders. The next technical support to watch is at €28.28, less than 4% from the current price.