Matinas BioPharma (NYSEAMERICAN:MTNB) Downgraded by Zacks Investment Research

Matinas BioPharma (NYSEAMERICAN:MTNBGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, reports.

According to Zacks, “Matinas BioPharma is a clinical-stage biopharmaceutical company focused on enabling the delivery of life-changing medicines using its LNC platform technology. The Company’s proprietary, disruptive technology utilizes lipid nano-crystals which can encapsulate small molecule drugs, oligonucleotides, vaccines, peptides, proteins and other medicines potentially making them safer, more tolerable, less toxic and orally bioavailable. The Company’s lead anti-fungal product candidate, MAT2203, utilizes its proprietary lipid nano-crystal formulation technology for the safe and effective delivery of the broad-spectrum fungicidal agent, amphotericin B. Based on the positive patient clinical data reported in 2017, Matinas is preparing for a potential Phase 2 pivotal trial of MAT2203 for prevention of invasive fungal infections in patients with acute lymphoblastic leukemia. “

Separately, HC Wainwright reiterated a “buy” rating and set a $3.00 price objective on shares of Matinas BioPharma in a research note on Wednesday, March 9th.

Shares of NYSEAMERICAN:MTNB opened at $0.65 on Wednesday. Matinas BioPharma has a 1 year low of $0.49 and a 1 year high of $1.61. The company has a market cap of $141.40 million, a P/E ratio of -5.93 and a beta of 2.17.

Matinas BioPharma (NYSEAMERICAN:MTNBGet Rating) last released its earnings results on Tuesday, March 8th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). Analysts forecast that Matinas BioPharma will post -0.12 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of MTNB. Sargent Investment Group LLC grew its holdings in shares of Matinas BioPharma by 0.4% during the 1st quarter. Sargent Investment Group LLC now owns 3,643,979 shares of the company’s stock valued at $2,931,000 after purchasing an additional 15,073 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Matinas BioPharma by 43.6% in the third quarter. Commonwealth Equity Services LLC now owns 52,400 shares of the company’s stock valued at $68,000 after buying an additional 15,900 shares in the last quarter. BlackRock Inc. grew its stake in shares of Matinas BioPharma by 0.8% during the third quarter. BlackRock Inc. now owns 2,723,775 shares of the company’s stock worth $3,541,000 after buying an additional 22,264 shares during the last quarter. First Republic Investment Management Inc. acquired a new position in shares of Matinas BioPharma during the third quarter worth $41,000. Finally, Rafferty Asset Management LLC acquired a new position in shares of Matinas BioPharma during the fourth quarter worth $35,000. 12.40% of the stock is owned by institutional investors.

Matinas BioPharma Company Profile (Get Rating)

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.

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