Immix Biopharma (NASDAQ:IMMX) Stock Price Down 6.7% – Here’s What Happened

Shares of Immix Biopharma, Inc. (NASDAQ:IMMX) fell 6.7% during mid-day trading on Friday . The company traded as low as $9.58 and last traded at $9.3870. 309,111 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 1,229,322 shares. The stock had previously closed at $10.06.

Wall Street Analysts Forecast Growth

Several analysts recently commented on IMMX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immix Biopharma in a report on Friday, July 17th. Lifesci Capital began coverage on Immix Biopharma in a report on Wednesday, June 17th. They issued an “outperform” rating and a $19.00 target price on the stock. Needham & Company LLC assumed coverage on Immix Biopharma in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $21.00 target price on the stock. Bank of America initiated coverage on Immix Biopharma in a research note on Thursday, June 18th. They set a “buy” rating and a $27.00 price target for the company. Finally, HC Wainwright upped their price target on shares of Immix Biopharma from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.71.

Immix Biopharma Trading Down 6.8%

The company’s 50 day moving average price is $9.37 and its two-hundred day moving average price is $8.82. The firm has a market cap of $510.37 million, a PE ratio of -10.22 and a beta of 0.11.

Immix Biopharma (NASDAQ:IMMX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.01. Equities research analysts expect that Immix Biopharma, Inc. will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of Immix Biopharma

Hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC raised its stake in Immix Biopharma by 9.5% during the 1st quarter. Private Advisor Group LLC now owns 34,725 shares of the company’s stock worth $316,000 after acquiring an additional 3,000 shares during the period. Allworth Financial LP purchased a new position in Immix Biopharma during the fourth quarter valued at approximately $30,000. Velan Capital Investment Management LP boosted its position in shares of Immix Biopharma by 40.0% in the third quarter. Velan Capital Investment Management LP now owns 35,000 shares of the company’s stock worth $73,000 after purchasing an additional 10,000 shares during the period. Everhart Financial Group Inc. bought a new position in shares of Immix Biopharma in the second quarter worth approximately $103,000. Finally, Mathes Company Inc. purchased a new stake in shares of Immix Biopharma in the fourth quarter worth $56,000. Institutional investors own 11.26% of the company’s stock.

Immix Biopharma Company Profile

Immix Biopharma (NASDAQ:IMMX) is a clinical-stage biopharmaceutical company focused on the discovery and development of novel immuno-oncology therapies that target myeloid checkpoints. The company’s approach centers on harnessing the innate immune system to promote anti-tumor activity, complementing established T-cell checkpoint inhibitors. By modulating key myeloid pathways, Immix Biopharma aims to overcome resistance mechanisms in solid tumors and broaden the scope of effective cancer immunotherapy.

The company’s lead candidate, IMX-110, is a first-in-class combination therapy designed to activate macrophages and dendritic cells within the tumor microenvironment.