Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 4,100,334 shares, a growth of 6.8% from the December 14th total of 3,839,495 shares. Currently, 4.4% of the shares of the stock are sold short. Based on an average daily volume of 923,214 shares, the days-to-cover ratio is currently 4.4 days.
Separately, Maxim Group raised their target price on shares of Matinas BioPharma from $2.00 to $5.00 and gave the company a “buy” rating in a research note on Monday, November 12th.
Shares of NYSEAMERICAN MTNB opened at $0.87 on Friday. Matinas BioPharma has a one year low of $0.32 and a one year high of $1.48.
Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its position in Matinas BioPharma by 325.6% during the third quarter. Renaissance Technologies LLC now owns 134,900 shares of the company’s stock valued at $124,000 after acquiring an additional 103,200 shares during the last quarter. K.J. Harrison & Partners Inc bought a new position in Matinas BioPharma during the third quarter valued at approximately $150,000. Finally, Paloma Partners Management Co grew its position in Matinas BioPharma by 1,724.7% during the second quarter. Paloma Partners Management Co now owns 317,499 shares of the company’s stock valued at $138,000 after acquiring an additional 300,099 shares during the last quarter.
About Matinas BioPharma
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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