Matinas BioPharma (NYSEAMERICAN:MTNB) Stock Rating Lowered 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 report issued on Friday, Zacks.com reports.

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

Matinas BioPharma Price Performance

Shares of NYSEAMERICAN MTNB opened at $0.57 on Friday. Matinas BioPharma has a 1 year low of $0.51 and a 1 year high of $21.50. The stock has a market cap of $2.85 million, a P/E ratio of -0.10 and a beta of 1.73.

Matinas BioPharma (NYSEAMERICAN:MTNB) last released its earnings results on Wednesday, August 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02).

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MTNB. Alliance Wealth Management Group bought a new stake in shares of Matinas BioPharma in the second quarter worth approximately $299,000. Towercrest Capital Management bought a new position in Matinas BioPharma during the second quarter valued at approximately $299,000. Finally, Highbridge Capital Management LLC purchased a new stake in Matinas BioPharma in the second quarter worth approximately $1,685,000. Hedge funds and other 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.