Immix Biopharma (NASDAQ:IMMX) Stock Price Down 4.6% – Here’s Why

Immix Biopharma, Inc. (NASDAQ:IMMX) shares fell 4.6% during trading on Thursday . The stock traded as low as $9.68 and last traded at $9.5740. 43,334 shares changed hands during mid-day 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 research firms have commented on IMMX. Morgan Stanley began coverage on Immix Biopharma in a report on Wednesday, March 25th. They issued an “overweight” rating and a $20.00 price target for the company. Citizens Jmp restated a “market outperform” rating and issued a $23.00 price target on shares of Immix Biopharma in a report on Friday, March 27th. HC Wainwright lifted their price target on Immix Biopharma from $12.00 to $15.00 and gave the company a “buy” rating in a report on Friday, March 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Immix Biopharma in a report on Thursday, January 22nd. Finally, Wall Street Zen cut Immix Biopharma from a “hold” rating to a “sell” rating in a report on Sunday, March 15th. Four investment 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 stock has an average rating of “Moderate Buy” and an average price target of $18.25.

Immix Biopharma Stock Performance

The firm has a market cap of $548.65 million, a PE ratio of -11.63 and a beta of 0.20. The stock has a fifty day moving average price of $8.85 and a 200-day moving average price of $5.99.

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

Hedge Funds Weigh In On Immix Biopharma

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP purchased a new position in Immix Biopharma in the 4th quarter worth approximately $30,000. Mathes Company Inc. purchased a new position in Immix Biopharma in the 4th quarter worth approximately $56,000. Balyasny Asset Management L.P. purchased a new position in Immix Biopharma in the 4th quarter worth approximately $67,000. Kera Capital Partners Inc. purchased a new position in Immix Biopharma in the 4th quarter worth approximately $68,000. Finally, Squarepoint Ops LLC purchased a new position in Immix Biopharma in the 4th quarter worth approximately $112,000. Hedge funds and other 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.