Matinas BioPharma Holdings Inc (MTNB) Sees Large Growth in Short Interest
Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB) saw a significant increase in short interest during the month of September. As of September 14th, there was short interest totalling 1,666,107 shares, an increase of 10.5% from the August 31st total of 1,507,380 shares. Approximately 2.2% of the shares of the company are sold short. Based on an average trading volume of 236,197 shares, the days-to-cover ratio is presently 7.1 days.
Separately, Maxim Group reduced their price objective on Matinas BioPharma from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, July 10th.
NYSEAMERICAN:MTNB traded up $0.12 during mid-day trading on Tuesday, hitting $0.75. 7,191,108 shares of the company traded hands, compared to its average volume of 383,601. Matinas BioPharma has a one year low of $0.32 and a one year high of $1.60.
A hedge fund recently raised its stake in Matinas BioPharma stock. Paloma Partners Management Co raised its stake in shares of Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB) by 1,724.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 317,499 shares of the company’s stock after purchasing an additional 300,099 shares during the period. Paloma Partners Management Co owned 0.34% of Matinas BioPharma worth $138,000 as of its most recent SEC filing.
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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