Matinas BioPharma (MTNB) Shares Gap Down to $0.90

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Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB)’s share price gapped down before the market opened on Monday . The stock had previously closed at $0.80, but opened at $0.90. Matinas BioPharma shares last traded at $0.83, with a volume of 24389 shares.

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

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

An institutional investor recently raised its position in Matinas BioPharma stock. Paloma Partners Management Co raised its stake in shares of Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB) by 1,724.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 317,499 shares of the company’s stock after purchasing an additional 300,099 shares during the quarter. Paloma Partners Management Co owned 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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