Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB) shares rose 5% on Wednesday . The stock traded as high as $0.89 and last traded at $0.84. Approximately 1,009,121 shares traded hands during mid-day trading, an increase of 0% from the average daily volume of 1,007,829 shares. The stock had previously closed at $0.80.
MTNB has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Matinas BioPharma from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a research report on Tuesday, April 16th. BTIG Research started coverage on shares of Matinas BioPharma in a research report on Friday, May 17th. They issued a “buy” rating and a $5.00 price target on the stock. Maxim Group reissued a “buy” rating and issued a $5.00 price objective on shares of Matinas BioPharma in a research note on Thursday, May 16th. Finally, HC Wainwright started coverage on shares of Matinas BioPharma in a research note on Wednesday. They issued a “buy” rating and a $4.00 price objective for the company. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Matinas BioPharma has a consensus rating of “Buy” and an average price target of $4.00.
Matinas BioPharma (NYSEAMERICAN:MTNB) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.01).
In other news, Director Adam K. Stern acquired 80,000 shares of Matinas BioPharma stock in a transaction dated Friday, May 31st. The stock was purchased at an average cost of $0.94 per share, with a total value of $75,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders bought 187,487 shares of company stock valued at $167,290.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vivo Capital LLC purchased a new position in Matinas BioPharma during the first quarter valued at $7,432,000. Victory Capital Management Inc. purchased a new position in Matinas BioPharma during the first quarter valued at $1,867,000. BlackRock Inc. grew its stake in shares of Matinas BioPharma by 147.1% in the 4th quarter. BlackRock Inc. now owns 290,589 shares of the company’s stock worth $173,000 after buying an additional 173,005 shares in the last quarter. Tibra Equities Europe Ltd purchased a new position in shares of Matinas BioPharma in the 1st quarter worth $264,000. Finally, Northern Trust Corp grew its stake in shares of Matinas BioPharma by 18.9% in the 4th 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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