Matinas Biopharma (NYSE:MTNB) Trading Down 1.3% – Time to Sell?

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

Wall Street Analysts Forecast Growth

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

Matinas Biopharma Price Performance

The stock has a market cap of $2.64 million, a price-to-earnings 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 purchased a new position in Matinas Biopharma Holdings, Inc. (NYSE:MTNB) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,886,715 shares of the company’s stock, valued at approximately $299,000. Towercrest Capital Management owned approximately 0.75% of Matinas Biopharma at the end of the most recent quarter. 11.77% of the stock is currently owned by institutional investors and hedge funds.

About Matinas Biopharma

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.