Matinas BioPharma (MTNB) Shares Gap Up to $0.80

Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB) shares gapped up before the market opened on Thursday . The stock had previously closed at $0.55, but opened at $0.80. Matinas BioPharma shares last traded at $1.06, with a volume of 17764949 shares traded.

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

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

An institutional investor recently raised its position in Matinas BioPharma stock. Paloma Partners Management Co raised its holdings in shares of Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB) by 1,724.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period.

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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