Matinas BioPharma Holdings, Inc. (NYSEAMERICAN:MTNB) Sees Large Increase in Short Interest

Posted by Donald Scott on Oct 30th, 2024

Matinas BioPharma Holdings, Inc. (NYSEAMERICAN:MTNB – Get Free Report) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 80,400 shares, an increase of 28.2% from the September 30th total of 62,700 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average daily volume of 40,100 shares, the short-interest ratio is presently 2.0 days.

Matinas BioPharma Trading Down 30.8 %

Shares of NYSEAMERICAN MTNB traded down $0.86 during mid-day trading on Wednesday, hitting $1.93. The company had a trading volume of 154,917 shares, compared to its average volume of 30,502. Matinas BioPharma has a 12 month low of $1.90 and a 12 month high of $21.50. The company has a market cap of $9.69 million, a price-to-earnings ratio of -0.47 and a beta of 1.64.

Matinas BioPharma (NYSEAMERICAN:MTNB – Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02).

Institutional Investors Weigh In On Matinas BioPharma

Institutional investors have recently added to or reduced their stakes in the stock. Highbridge Capital Management LLC acquired a new stake in Matinas BioPharma during the 2nd quarter worth $1,685,000. Towercrest Capital Management acquired a new position in Matinas BioPharma during the second quarter worth approximately $299,000. Finally, Alliance Wealth Management Group acquired a new stake in shares of Matinas BioPharma during the 2nd quarter worth about $299,000. 11.77% of the stock is owned by institutional investors and hedge funds.

About Matinas BioPharma

(Get Free Report)

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.