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

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MTNB shares. Alliance Global Partners downgraded Matinas Biopharma from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st. Maxim Group reiterated a “hold” rating on shares of Matinas Biopharma in a research note on Thursday, October 31st.

Matinas Biopharma Stock Performance

The stock has a market cap of $2.64 million, a PE ratio of -0.11 and a beta of 1.67.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Matinas Biopharma stock. Towercrest Capital Management bought a new position in Matinas Biopharma Holdings, Inc. (NYSE:MTNB) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,886,715 shares of the company’s stock, valued at approximately $299,000. Towercrest Capital Management owned 0.75% of Matinas Biopharma as of its most recent filing with the SEC. 11.77% of the stock is currently owned by hedge funds and other institutional investors.

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.