Nanobiotix Stock Sets a Record Following Clinical Study Results
Nanobiotix stock drops 5.07% to €41.60 at midday, after hitting a new all-time high of €47.66 during the session, surpassing the previous peak of May 14 at €47.60. The French biotech closes the SBF 120, which itself fell by 0.72%. However, its year-on-year performance remains spectacular, at over 1,080%.
A Record of €47.66 Followed by Marked Profit-Taking During the Session
The stock surged to €47.66 intraday, setting a new all-time high, before a sharp pullback by sellers. At €41.60, the stock is below its previous closing of €43.82. This session follows the May 17 presentation of phase 2 clinical data from the CONVERGE study conducted with Johnson & Johnson, reporting an 85.7% overall response for JNJ-1900 in non-small cell lung cancer. Nanobiotix is the worst performer in the SBF 120, just ahead of Ipsen (-4.58%) and Nexity (-3.62%). Despite today's drop, the weekly performance remains positive at nearly 13%, and the three-month gain exceeds 86%. Meanwhile, the broader context weighs on risky assets, with the 10-year Treasury yield rising to 4.63% and Brent crude above $110.
A Tense Technical Setup After Rejection from the Upper Bollinger Band
Today's movement comes after a clear rejection from the upper boundary of the Bollinger Bands, set at €46.61. The intraday record of €47.66 pushed the price above this boundary, a classic sign of overextension, before the pullback to €41.60. An RSI at 71 confirms a persistent overbought configuration over several sessions. The price remains well above its MM20 (€32.99) and MM200 (€19.46), illustrating the magnitude of the recent rally. On the analyst side, Portzamparc issued a price target of €35 on May 18, with a 'hold' recommendation. This target is about 16% below the current price, reflecting the caution of part of the analyst consensus regarding the valuation reached. The technical resistance threshold identified at €46.18 was breached and then abandoned within the same session; the support at €25.62 remains distant. The next milestone will be the market's digestion of the CONVERGE data in the upcoming sessions.
