Matinas BioPharma (NYSEAMERICAN:MTNB) Stock Price Up 7.6%

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Shares of Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB) rose 7.6% on Tuesday . The company traded as high as $0.75 and last traded at $0.71, approximately 915,474 shares traded hands during trading. A decline of 2% from the average daily volume of 933,134 shares. The stock had previously closed at $0.66.

MTNB has been the subject of a number of recent analyst reports. Maxim Group reaffirmed a “buy” rating and set a $5.00 target price on shares of Matinas BioPharma in a report on Thursday, May 16th. Zacks Investment Research raised Matinas BioPharma from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. BTIG Research initiated coverage on Matinas BioPharma in a report on Friday, May 17th. They set a “buy” rating and a $5.00 target price for the company. Finally, HC Wainwright initiated coverage on Matinas BioPharma in a report on Wednesday, June 26th. They set a “buy” rating and a $4.00 target price for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $4.00.

Matinas BioPharma (NYSEAMERICAN:MTNB) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01).

In other Matinas BioPharma news, Director Adam K. Stern acquired 80,000 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was bought at an average price of $0.94 per share, with a total value of $75,200.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought 187,487 shares of company stock valued at $167,290 in the last three months.

Hedge funds and other institutional investors have recently modified their holdings of the company. D. E. Shaw & Co. Inc. purchased a new stake in Matinas BioPharma in the fourth quarter worth approximately $26,000. IPG Investment Advisors LLC boosted its stake in Matinas BioPharma by 54.5% in the first quarter. IPG Investment Advisors LLC now owns 42,500 shares of the company’s stock worth $46,000 after buying an additional 15,000 shares in the last quarter. Brighton Jones LLC purchased a new stake in Matinas BioPharma in the first quarter worth approximately $55,000. Wells Fargo & Company MN boosted its stake in Matinas BioPharma by 297.2% in the second quarter. Wells Fargo & Company MN now owns 103,274 shares of the company’s stock worth $88,000 after buying an additional 77,274 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Matinas BioPharma by 18.9% in the fourth quarter. Northern Trust Corp now owns 182,641 shares of the company’s stock worth $109,000 after buying an additional 29,072 shares in the last quarter.

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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