Matinas BioPharma (NYSEAMERICAN:MTNB) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Matinas BioPharma (NYSEAMERICAN:MTNB) from a sell rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “Matinas BioPharma is a clinical-stage biopharmaceutical company focused on enabling the delivery of life-changing medicines using its LNC platform technology. The Company’s proprietary, disruptive technology utilizes lipid nano-crystals which can encapsulate small molecule drugs, oligonucleotides, vaccines, peptides, proteins and other medicines potentially making them safer, more tolerable, less toxic and orally bioavailable. The Company’s lead anti-fungal product candidate, MAT2203, utilizes its proprietary lipid nano-crystal formulation technology for the safe and effective delivery of the broad-spectrum fungicidal agent, amphotericin B. Based on the positive patient clinical data reported in 2017, Matinas is preparing for a potential Phase 2 pivotal trial of MAT2203 for prevention of invasive fungal infections in patients with acute lymphoblastic leukemia. “

Separately, HC Wainwright reissued a buy rating and issued a $3.00 price objective on shares of Matinas BioPharma in a research note on Tuesday, September 14th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Buy and an average price target of $2.50.

MTNB opened at $0.88 on Wednesday. Matinas BioPharma has a fifty-two week low of $0.67 and a fifty-two week high of $1.73. The stock has a market cap of $189.22 million, a PE ratio of -7.95 and a beta of 2.18.

Matinas BioPharma (NYSEAMERICAN:MTNB) last posted its quarterly earnings results on Sunday, November 7th. The company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.01). As a group, equities research analysts anticipate that Matinas BioPharma will post -0.12 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. BFT Financial Group LLC bought a new position in Matinas BioPharma in the 3rd quarter valued at $31,000. First Republic Investment Management Inc. bought a new position in Matinas BioPharma in the 3rd quarter valued at $41,000. Commonwealth Equity Services LLC raised its position in Matinas BioPharma by 43.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 52,400 shares of the company’s stock valued at $68,000 after purchasing an additional 15,900 shares during the last quarter. Two Sigma Securities LLC bought a new position in Matinas BioPharma in the 3rd quarter valued at $94,000. Finally, Investors Financial Group LLC raised its position in Matinas BioPharma by 77.8% in the 3rd quarter. Investors Financial Group LLC now owns 80,000 shares of the company’s stock valued at $104,000 after purchasing an additional 35,000 shares during the last quarter. Hedge funds and other institutional investors own 11.97% of the company’s stock.

About Matinas BioPharma

Matinas BioPharma Holdings, Inc is a clinical-stage biopharmaceutical company, which focuses on enabling the delivery of life-changing medicines using its LNC platform technology. The company’s proprietary, disruptive technology utilizes lipid nano-crystals which can encapsulate small molecule drugs, oligonucleotides, vaccines, peptides, proteins, and other medicines potentially making them safer, more tolerable, less toxic, and orally bioavailable.

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