Matinas BioPharma (NYSEAMERICAN:MTNB) Posts Quarterly Earnings Results, Hits Estimates

Matinas BioPharma (NYSEAMERICAN:MTNB – Get Rating) issued its quarterly earnings results on Thursday. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03), MarketWatch Earnings reports.

Shares of MTNB stock opened at $0.67 on Friday. Matinas BioPharma has a 12-month low of $0.49 and a 12-month high of $1.61.

Institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. purchased a new position in shares of Matinas BioPharma during the 4th quarter valued at $47,000. Susquehanna International Group LLP bought a new stake in Matinas BioPharma in the fourth quarter worth $60,000. Bank of America Corp DE lifted its stake in Matinas BioPharma by 7,927.9% in the fourth quarter. Bank of America Corp DE now owns 146,348 shares of the company’s stock worth $148,000 after purchasing an additional 144,525 shares during the last quarter. Private Advisor Group LLC lifted its stake in Matinas BioPharma by 59.7% in the first quarter. Private Advisor Group LLC now owns 239,494 shares of the company’s stock worth $192,000 after purchasing an additional 89,553 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in Matinas BioPharma by 567.4% in the third quarter. Jane Street Group LLC now owns 162,141 shares of the company’s stock worth $211,000 after purchasing an additional 137,847 shares during the last quarter. Institutional investors and hedge funds own 12.40% of the company’s stock.

Several equities research analysts have weighed in on MTNB shares. HC Wainwright restated a “buy” rating and set a $3.00 target price on shares of Matinas BioPharma in a research note on Wednesday, March 9th. Zacks Investment Research cut Matinas BioPharma from a “buy” rating to a “hold” rating in a research note on Wednesday.

Matinas BioPharma Company Profile (Get Rating)

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.

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