Immix Biopharma (NASDAQ:IMMX) Rating Lowered to Hold at Zacks Research

Immix Biopharma (NASDAQ:IMMX) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. HC Wainwright reissued a “buy” rating and issued a $7.00 price target on shares of Immix Biopharma in a research note on Wednesday, June 4th. Wall Street Zen raised shares of Immix Biopharma to a “hold” rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.00.

Immix Biopharma Price Performance

Shares of NASDAQ IMMX opened at $2.12 on Monday. The stock has a market capitalization of $61.12 million, a price-to-earnings ratio of -2.75 and a beta of 0.28. Immix Biopharma has a 12 month low of $1.26 and a 12 month high of $3.20. The firm’s 50 day simple moving average is $2.50 and its 200-day simple moving average is $2.10.

Immix Biopharma (NASDAQ:IMMX) last issued its quarterly earnings data on Friday, August 8th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). Analysts anticipate that Immix Biopharma will post -0.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Immix Biopharma

Institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new stake in Immix Biopharma in the 4th quarter valued at $39,000. Tritonpoint Wealth LLC acquired a new stake in Immix Biopharma during the 2nd quarter worth $51,000. Finally, Velan Capital Investment Management LP acquired a new stake in Immix Biopharma during the 2nd quarter worth $52,000. Institutional investors and hedge funds own 11.26% of the company’s stock.

Immix Biopharma Company Profile

Immix Biopharma, Inc, a clinical-stage biopharmaceutical company, engages in developing tissue-specific therapeutics in oncology and inflammation in the United States and Australia. The company is developing IMX-110 that is in Phase 1b/2a clinical trials for the treatment of soft tissue sarcoma and solid tumors; IMX-111, a tissue-specific biologic for the treatment of colorectal cancers; and IMX-120, a tissue-specific biologic for the treatment of ulcerative colitis and severe Crohn's disease.