Shares of Immix Biopharma, Inc. (NASDAQ:IMMX – Get Free Report) were down 4.5% on Friday . The stock traded as low as $10.49 and last traded at $10.4280. Approximately 116,508 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 1,239,514 shares. The stock had previously closed at $10.92.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immix Biopharma in a research report on Friday, July 17th. Lifesci Capital assumed coverage on shares of Immix Biopharma in a report on Wednesday, June 17th. They issued an “outperform” rating and a $19.00 price target on the stock. HC Wainwright boosted their price target on shares of Immix Biopharma from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday. Needham & Company LLC started coverage on shares of Immix Biopharma in a report on Wednesday, July 22nd. They set a “buy” rating and a $21.00 price objective for the company. Finally, Morgan Stanley cut their price objective on Immix Biopharma from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.29.
Get Our Latest Research Report on IMMX
Immix Biopharma Trading Down 1.7%
Immix Biopharma (NASDAQ:IMMX – Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.01). On average, 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 hedge funds have recently made changes to their positions in IMMX. Compass Financial Management LLC bought a new position in shares of Immix Biopharma in the 2nd quarter valued at about $56,000. Allworth Financial LP purchased a new stake in Immix Biopharma during the second quarter valued at approximately $75,000. Blue Owl Capital Holdings LP bought a new stake in shares of Immix Biopharma in the 2nd quarter valued at approximately $4,511,000. Tocqueville Asset Management L.P. bought a new stake in shares of Immix Biopharma in the 2nd quarter valued at approximately $913,000. Finally, BlackRock Inc. purchased a new position in shares of Immix Biopharma in the 2nd quarter worth approximately $30,827,000. 11.26% of the stock is currently owned by hedge funds and other institutional investors.
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.
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