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%.
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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