Sargent Investment Group LLC Sells 3,411,760 Shares of Matinas Biopharma Holdings, Inc. (NYSE:MTNB)

Sargent Investment Group LLC lessened its position in shares of Matinas Biopharma Holdings, Inc. (NYSE:MTNB) by 97.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 80,240 shares of the company’s stock after selling 3,411,760 shares during the period. Sargent Investment Group LLC owned approximately 1.60% of Matinas Biopharma worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MTNB. Towercrest Capital Management purchased a new stake in shares of Matinas Biopharma during the 2nd quarter valued at about $299,000. Alliance Wealth Management Group bought a new position in Matinas Biopharma in the second quarter worth approximately $299,000. Finally, Highbridge Capital Management LLC purchased a new stake in Matinas Biopharma in the second quarter valued at about $1,685,000. Hedge funds and other institutional investors own 11.77% of the company’s stock.

Matinas Biopharma Trading Down 5.6 %

MTNB traded down $0.04 on Thursday, hitting $0.67. 595,899 shares of the company were exchanged, compared to its average volume of 78,146. The firm has a market capitalization of $3.36 million, a P/E ratio of -0.13 and a beta of 1.73. Matinas Biopharma Holdings, Inc. has a fifty-two week low of $0.50 and a fifty-two week high of $21.50.

Matinas Biopharma (NYSE:MTNB) last announced its earnings results on Wednesday, August 14th. The company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02).

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MTNB shares. Alliance Global Partners lowered shares of Matinas Biopharma from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 1st. Maxim Group restated a “hold” rating on shares of Matinas Biopharma in a report on Thursday, October 31st.

Matinas Biopharma Company Profile

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.