Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,507,380 shares, an increase of 3.2% from the August 15th total of 1,460,681 shares. Currently, 2.0% of the company’s shares are sold short. Based on an average daily volume of 292,654 shares, the days-to-cover ratio is presently 5.2 days.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Paloma Partners Management Co increased its position in shares of Matinas BioPharma by 1,724.7% during the 2nd quarter. Paloma Partners Management Co now owns 317,499 shares of the company’s stock valued at $138,000 after purchasing an additional 300,099 shares during the last quarter. Deutsche Bank AG increased its position in shares of Matinas BioPharma by 184.8% during the 4th quarter. Deutsche Bank AG now owns 148,042 shares of the company’s stock valued at $171,000 after purchasing an additional 96,054 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of Matinas BioPharma by 134.5% during the 1st quarter. Royal Bank of Canada now owns 784,154 shares of the company’s stock valued at $599,000 after purchasing an additional 449,761 shares during the last quarter.
Shares of NYSEAMERICAN MTNB traded down $0.08 during trading hours on Friday, hitting $0.82. 2,292,561 shares of the company traded hands, compared to its average volume of 556,997. Matinas BioPharma has a 12 month low of $0.32 and a 12 month high of $1.60.
Matinas BioPharma (NYSEAMERICAN:MTNB) last released its earnings results on Friday, August 10th. The company reported ($0.04) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). The firm had revenue of $0.09 million for the quarter. Matinas BioPharma had a negative return on equity of 195.09% and a negative net margin of 7,558.92%.
Separately, Maxim Group cut their target price on Matinas BioPharma from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, July 10th.
Matinas BioPharma Company Profile
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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