Matinas BioPharma (NYSEAMERICAN:MTNB) Lowered to “Hold” Rating by Alliance Global Partners

Matinas BioPharma (NYSEAMERICAN:MTNB) was downgraded by research analysts at Alliance Global Partners from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

Separately, Maxim Group reiterated a “hold” rating on shares of Matinas BioPharma in a research note on Thursday, October 31st.

Matinas BioPharma Stock Down 2.5 %

Matinas BioPharma stock opened at $0.57 on Friday. Matinas BioPharma has a 52-week low of $0.51 and a 52-week high of $21.50. The stock has a market cap of $2.85 million, a price-to-earnings ratio of -0.10 and a beta of 1.73.

Matinas BioPharma (NYSEAMERICAN:MTNB) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02).

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Alliance Wealth Management Group bought a new position in shares of Matinas BioPharma in the second quarter worth about $299,000. Towercrest Capital Management purchased a new position in Matinas BioPharma in the 2nd quarter worth approximately $299,000. Finally, Highbridge Capital Management LLC bought a new position in Matinas BioPharma in the 2nd quarter worth approximately $1,685,000. Institutional investors own 11.77% of the company’s stock.

Matinas BioPharma Company Profile

Matinas BioPharma Holdings, Inc, a clinical-stage biopharmaceutical company, identifies and develops pharmaceutical products using its lipid nanocrystal (LNC) platform technology. The company’s LNC delivery technology platform utilizes lipid nanocrystals for the delivery of small molecules, nucleic acids, gene therapies, vaccines, proteins, and peptides.