Matinas BioPharma (NYSEAMERICAN:MTNB) Downgraded by Alliance Global Partners to “Hold”

Matinas BioPharma (NYSEAMERICAN:MTNB) was downgraded by equities research analysts at Alliance Global Partners from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

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

Matinas BioPharma Price Performance

Matinas BioPharma stock opened at $0.57 on Friday. Matinas BioPharma has a 52-week low of $0.51 and a 52-week high of $21.50. The firm has a market cap of $2.85 million, a price-to-earnings ratio of -0.10 and a beta of 1.73.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MTNB. Alliance Wealth Management Group acquired a new position in shares of Matinas BioPharma during the 2nd quarter worth approximately $299,000. Towercrest Capital Management bought a new stake in shares of Matinas BioPharma during the 2nd quarter valued at $299,000. Finally, Highbridge Capital Management LLC bought a new stake in shares of Matinas BioPharma during the 2nd quarter valued at $1,685,000. Institutional investors and hedge funds own 11.77% of the company’s stock.

About Matinas BioPharma

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.