Matinas BioPharma (NYSEAMERICAN:MTNB) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Matinas BioPharma (NYSEAMERICAN:MTNB) issued its earnings results on Tuesday. The company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.01, Bloomberg Earnings reports.

Shares of Matinas BioPharma stock opened at $0.71 on Wednesday. Matinas BioPharma has a twelve month low of $0.35 and a twelve month high of $1.50.

In other Matinas BioPharma news, Director Adam K. Stern bought 80,000 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were purchased at an average cost of $0.94 per share, for a total transaction of $75,200.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have bought a total of 187,487 shares of company stock worth $167,290 over the last quarter.

Institutional investors and hedge funds have recently bought and sold shares of the stock. IPG Investment Advisors LLC boosted its stake in Matinas BioPharma by 54.5% during the 1st quarter. IPG Investment Advisors LLC now owns 42,500 shares of the company’s stock valued at $46,000 after purchasing an additional 15,000 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in Matinas BioPharma during the 4th quarter valued at $26,000. Brighton Jones LLC bought a new position in Matinas BioPharma during the 1st quarter valued at $55,000. Wells Fargo & Company MN boosted its stake in Matinas BioPharma by 297.2% during the 2nd quarter. Wells Fargo & Company MN now owns 103,274 shares of the company’s stock valued at $88,000 after purchasing an additional 77,274 shares in the last quarter. Finally, Virtu Financial LLC boosted its stake in Matinas BioPharma by 80.0% during the 1st quarter. Virtu Financial LLC now owns 116,636 shares of the company’s stock valued at $127,000 after purchasing an additional 51,853 shares in the last quarter.

Several equities research analysts have recently weighed in on MTNB shares. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 target price on shares of Matinas BioPharma in a research report on Wednesday. Maxim Group reaffirmed a “buy” rating and issued a $5.00 target price on shares of Matinas BioPharma in a research report on Thursday, May 16th. Zacks Investment Research raised Matinas BioPharma from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, BTIG Research started coverage on Matinas BioPharma in a report on Friday, May 17th. They issued a “buy” rating and a $5.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $4.00.

About Matinas BioPharma

Matinas BioPharma Holdings, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of various product candidates. The company enables the delivery of life-changing medicines using its lipid nano-crystal (LNC) platform technology. Its LNC delivery technology platform utilizes lipid nano-crystals which can encapsulate small molecules, oligonucleotides, vaccines, peptides, proteins and other medicines potentially making them safer, more tolerable, less toxic, and orally bioavailable.

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Earnings History for Matinas BioPharma (NYSEAMERICAN:MTNB)

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