Matinas BioPharma (NYSEAMERICAN:MTNB) posted its quarterly earnings results on Tuesday. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01, Bloomberg Earnings reports. The firm had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.06 million.
NYSEAMERICAN MTNB opened at $0.67 on Wednesday. Matinas BioPharma has a 12 month low of $0.35 and a 12 month high of $1.50.
In related news, Director Adam K. Stern bought 80,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were purchased at an average cost of $0.94 per share, with a total value of $75,200.00. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders purchased a total of 187,487 shares of company stock worth $167,290 over the last ninety days.
Several equities analysts have recently commented on MTNB shares. HC Wainwright restated a “buy” rating and issued a $4.00 price objective on shares of Matinas BioPharma in a report on Wednesday. Zacks Investment Research upgraded shares of Matinas BioPharma from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. BTIG Research started coverage on shares of Matinas BioPharma in a report on Friday, May 17th. They issued a “buy” rating and a $5.00 price objective on the stock. Finally, Maxim Group restated a “buy” rating and issued a $5.00 price objective on shares of Matinas BioPharma in a report on Thursday, May 16th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $4.00.
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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