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 changing hands.

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

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

A hedge fund recently raised its stake in Matinas BioPharma stock. Paloma Partners Management Co increased its stake in Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB) by 1,724.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 317,499 shares of the company’s stock after buying an additional 300,099 shares during the period. Paloma Partners Management Co owned 0.34% of Matinas BioPharma worth $138,000 as of its most recent filing with the Securities & Exchange Commission.

About Matinas BioPharma (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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