Matinas BioPharma (MTNB) Shares Up 6.8%

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Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB) shot up 6.8% during mid-day trading on Thursday . The company traded as high as $0.83 and last traded at $0.78. 2,585,447 shares changed hands during trading, an increase of 334% from the average session volume of 596,341 shares. The stock had previously closed at $0.73.

Separately, Maxim Group reduced their price objective on Matinas BioPharma from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Monday, August 13th.

Matinas BioPharma (NYSEAMERICAN:MTNB) last issued its quarterly earnings data on Friday, August 10th. The company reported ($0.04) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.04). The company had revenue of $0.09 million for the quarter. Matinas BioPharma had a negative return on equity of 195.09% and a negative net margin of 7,558.92%.

An institutional investor recently raised its position in Matinas BioPharma stock. Paloma Partners Management Co increased its holdings in Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB) by 1,724.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 317,499 shares of the company’s stock after acquiring an additional 300,099 shares during the quarter. Paloma Partners Management Co owned approximately 0.34% of Matinas BioPharma worth $138,000 as of its most recent filing with the SEC.

Matinas BioPharma Company Profile (NYSEAMERICAN:MTNB)

Matinas BioPharma Holdings, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of various product candidates. The company enables the delivery of life-changing medicines using its lipid nano-crystal (LNC) platform technology. Its LNC delivery technology platform utilizes lipid nano-crystals which can encapsulate small molecules, oligonucleotides, vaccines, peptides, proteins and other medicines potentially making them safer, more tolerable, less toxic, and orally bioavailable.

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