Immix Biopharma (NASDAQ:IMMX) Shares Down 5.4% – Should You Sell?

Immix Biopharma, Inc. (NASDAQ:IMMX) dropped 5.4% during trading on Tuesday . The company traded as low as $12.75 and last traded at $13.16. Approximately 199,127 shares were traded during trading, a decline of 84% from the average session volume of 1,266,649 shares. The stock had previously closed at $13.91.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IMMX. Morgan Stanley decreased their price objective on Immix Biopharma from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. Lifesci Capital assumed coverage on shares of Immix Biopharma in a research report on Wednesday, June 17th. They set an “outperform” rating and a $19.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immix Biopharma in a research note on Friday, July 17th. Needham & Company LLC initiated coverage on shares of Immix Biopharma in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $21.00 price target on the stock. Finally, Bank of America assumed coverage on shares of Immix Biopharma in a research note on Thursday, June 18th. They set a “buy” rating and a $27.00 price target on the stock. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.29.

Immix Biopharma Stock Performance

The company has a market capitalization of $951.48 million, a P/E ratio of -15.15 and a beta of 0.20. The business has a 50 day moving average of $11.10 and a 200-day moving average of $9.85.

Immix Biopharma (NASDAQ:IMMX) last issued its quarterly earnings data on Friday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). As a group, equities analysts forecast that Immix Biopharma, Inc. will post -0.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Immix Biopharma

Large investors have recently modified their holdings of the company. Allworth Financial LP purchased a new position in Immix Biopharma during the fourth quarter valued at approximately $30,000. Legal & General Group Plc purchased a new stake in Immix Biopharma in the 2nd quarter worth approximately $41,000. Mathes Company Inc. purchased a new stake in Immix Biopharma in the 4th quarter worth approximately $56,000. Compass Financial Management LLC bought a new position in Immix Biopharma in the 2nd quarter valued at $56,000. Finally, Balyasny Asset Management L.P. bought a new position in Immix Biopharma in the 4th quarter valued at $67,000. 11.26% of the stock is currently owned by institutional investors.

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.