Immix Biopharma (NASDAQ:IMMX) Shares Down 4.5% – Here’s What Happened
by Mitch Edgeman · The Markets DailyImmix Biopharma, Inc. (NASDAQ:IMMX – Get Free Report) was down 4.5% during trading on Friday . The stock traded as low as $10.49 and last traded at $10.4280. 116,508 shares were traded during trading, a decline of 91% from the average daily volume of 1,239,514 shares. The stock had previously closed at $10.92.
Analyst Upgrades and Downgrades
IMMX has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Immix Biopharma in a research note on Friday, July 17th. HC Wainwright upped their price target on shares of Immix Biopharma from $20.00 to $25.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley decreased their price objective on shares of Immix Biopharma from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday. Bank of America assumed coverage on Immix Biopharma in a research report on Thursday, June 18th. They set a “buy” rating and a $27.00 target price for the company. Finally, Lifesci Capital started coverage on Immix Biopharma in a research note on Wednesday, June 17th. They set an “outperform” rating and a $19.00 target price on the stock. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.29.
Read Our Latest Report on IMMX
Immix Biopharma Price Performance
The firm has a market capitalization of $767.98 million, a P/E ratio of -12.18 and a beta of 0.11. The firm has a 50-day moving average price of $9.57 and a two-hundred day moving average price of $9.02.
Immix Biopharma (NASDAQ:IMMX – Get Free Report) last posted its quarterly earnings results on Friday, August 7th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.01). Sell-side analysts predict that Immix Biopharma, Inc. will post -0.69 earnings per share for the current fiscal year.
Institutional Trading of Immix Biopharma
Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Immix Biopharma by 4.5% during the third quarter. Vanguard Group Inc. now owns 730,162 shares of the company’s stock valued at $1,526,000 after acquiring an additional 31,625 shares in the last quarter. Tocqueville Asset Management L.P. raised its position in Immix Biopharma by 37.4% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 40,250 shares of the company’s stock valued at $84,000 after purchasing an additional 10,950 shares in the last quarter. Imprint Wealth LLC purchased a new stake in shares of Immix Biopharma in the 3rd quarter worth $141,000. Citadel Advisors LLC purchased a new stake in shares of Immix Biopharma in the 3rd quarter worth $188,000. Finally, Susquehanna International Group LLP lifted its holdings in shares of Immix Biopharma by 78.8% in the 3rd quarter. Susquehanna International Group LLP now owns 90,858 shares of the company’s stock worth $190,000 after buying an additional 40,032 shares during the period. Institutional investors own 11.26% of the company’s stock.
About Immix Biopharma
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.