Matinas Biopharma (NYSE:MTNB) Shares Down 1.3% – What’s Next?

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

Analyst Upgrades and Downgrades

MTNB has been the subject of a number of recent analyst reports. Alliance Global Partners downgraded shares of Matinas Biopharma from a “strong-buy” rating to a “hold” rating in a research report 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 Price Performance

The firm has a market capitalization 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 acquired a new stake in shares of Matinas Biopharma Holdings, Inc. (NYSE:MTNB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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 own 11.77% of the company’s stock.

About Matinas Biopharma

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.