Immix Biopharma (NASDAQ:IMMX) Trading Down 4.6% – Time to Sell?

Immix Biopharma, Inc. (NASDAQ:IMMX)’s stock price fell 4.6% during trading on Thursday . The company traded as low as $9.68 and last traded at $9.5740. 43,334 shares traded hands during trading, a decline of 95% from the average session volume of 842,889 shares. The stock had previously closed at $10.04.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley assumed coverage on shares of Immix Biopharma in a report on Wednesday, March 25th. They issued an “overweight” rating and a $20.00 target price on the stock. HC Wainwright raised their target price on shares of Immix Biopharma from $12.00 to $15.00 and gave the company a “buy” rating in a report on Friday, March 27th. Citizens Jmp reissued a “market outperform” rating and issued a $23.00 target price on shares of Immix Biopharma in a report on Friday, March 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Immix Biopharma in a report on Thursday, January 22nd. Finally, Wall Street Zen lowered shares of Immix Biopharma from a “hold” rating to a “sell” rating in a report on Sunday, March 15th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Immix Biopharma has a consensus rating of “Moderate Buy” and an average price target of $18.25.

Immix Biopharma Trading Down 2.1%

The business’s 50 day moving average price is $8.70 and its two-hundred day moving average price is $5.91. The company has a market capitalization of $521.11 million, a price-to-earnings ratio of -11.00 and a beta of 0.20.

Immix Biopharma (NASDAQ:IMMX) last posted its quarterly earnings results on Wednesday, March 25th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.12). Analysts expect that Immix Biopharma, Inc. will post -0.87 EPS for the current year.

Institutional Investors Weigh In On Immix Biopharma

Several hedge funds have recently added to or reduced their stakes in IMMX. Vanguard Group Inc. boosted its position in Immix Biopharma by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 730,162 shares of the company’s stock worth $1,526,000 after buying an additional 31,625 shares during the period. Tocqueville Asset Management L.P. boosted 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 worth $84,000 after buying an additional 10,950 shares during the period. Imprint Wealth LLC acquired a new stake in Immix Biopharma during the 3rd quarter worth approximately $141,000. Citadel Advisors LLC acquired a new stake in Immix Biopharma during the 3rd quarter worth approximately $188,000. Finally, Susquehanna International Group LLP boosted its position in Immix Biopharma by 78.8% during 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. 11.26% of the stock is currently owned by institutional investors and hedge funds.

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.