Matinas Biopharma (NYSE:MTNB) Shares Down 1.3% – Here’s Why

Matinas Biopharma Holdings, Inc. (NYSE:MTNB)’s stock price dropped 1.3% on Friday . The company traded as low as $0.50 and last traded at $0.52. Approximately 156,816 shares traded hands during trading, an increase of 99% from the average daily volume of 78,657 shares. The stock had previously closed at $0.53.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MTNB. Alliance Global Partners cut Matinas Biopharma from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Maxim Group reaffirmed a “hold” rating on shares of Matinas Biopharma in a research note on Thursday, October 31st.

Matinas Biopharma Stock Performance

The company has a market cap of $2.64 million, a price-to-earnings ratio of -0.11 and a beta of 1.67.

Institutional Trading of Matinas Biopharma

An institutional investor recently bought a new position in Matinas Biopharma stock. Towercrest Capital Management bought a new stake in shares of Matinas Biopharma Holdings, Inc. (NYSE:MTNB) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,886,715 shares of the company’s stock, valued at approximately $299,000. Towercrest Capital Management owned 0.75% of Matinas Biopharma at the end of the most recent quarter. Institutional investors and hedge funds own 11.77% of the company’s stock.

Matinas Biopharma Company Profile

Matinas BioPharma Holdings, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of various product candidates. It develops products using its lipid nanocrystal (LNC) platform technology. The company’s LNC delivery technology platform utilizes lipid nano-crystals for the delivery of small molecules, nucleic acids, gene therapies, vaccines, proteins, and peptides.