Matinas Biopharma Holdings, Inc. (NYSE:MTNB) Sees Significant Decrease in Short Interest

Matinas Biopharma Holdings, Inc. (NYSE:MTNB) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 32,400 shares, a decrease of 59.7% from the October 15th total of 80,400 shares. Currently, 0.7% of the shares of the company are short sold. Based on an average trading volume of 188,500 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On Matinas Biopharma

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

Matinas Biopharma Trading Down 4.7 %

NYSE MTNB traded down $0.04 on Wednesday, reaching $0.71. The stock had a trading volume of 173,094 shares, compared to its average volume of 75,777. Matinas Biopharma has a 12-month low of $0.50 and a 12-month high of $21.50.

Matinas Biopharma (NYSE:MTNB) last released its earnings results on Wednesday, August 14th. The company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02).

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MTNB shares. Maxim Group restated a “hold” rating on shares of Matinas Biopharma in a report on Thursday, October 31st. Alliance Global Partners cut Matinas Biopharma from a “strong-buy” rating to a “hold” rating in a report on Friday, November 1st.

Matinas Biopharma Company Profile

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.