Immix Biopharma, Inc. (NASDAQ:IMMX) Sees Large Growth in Short Interest

Immix Biopharma, Inc. (NASDAQ:IMMX) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 7,881,944 shares, an increase of 98.6% from the June 15th total of 3,968,428 shares. Currently, 20.8% of the company’s shares are sold short. Based on an average daily volume of 2,933,999 shares, the days-to-cover ratio is presently 2.7 days.

Immix Biopharma Price Performance

Shares of NASDAQ IMMX opened at $10.53 on Thursday. The stock has a market capitalization of $572.95 million, a P/E ratio of -11.45 and a beta of 0.09. Immix Biopharma has a 1-year low of $1.94 and a 1-year high of $12.14. The business has a fifty day moving average price of $9.47 and a 200 day moving average price of $8.36.

Immix Biopharma (NASDAQ:IMMX) last posted its earnings results on Thursday, May 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.01. As a group, equities research analysts anticipate that Immix Biopharma will post -0.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IMMX. Weiss Ratings restated a “sell (d-)” rating on shares of Immix Biopharma in a research report on Tuesday, April 21st. HC Wainwright lifted their price target on shares of Immix Biopharma from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Lifesci Capital began coverage on shares of Immix Biopharma in a research report on Wednesday, June 17th. They issued an “outperform” rating and a $19.00 price objective on the stock. Morgan Stanley initiated coverage on Immix Biopharma in a research note on Wednesday, March 25th. They set an “overweight” rating and a $20.00 target price on the stock. Finally, Citigroup began coverage on Immix Biopharma in a report on Thursday, June 18th. They set a “buy” rating for the company. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $20.67.

Hedge Funds Weigh In On Immix Biopharma

A number of large investors have recently made changes to their positions in the business. Private Advisor Group LLC increased its position in Immix Biopharma by 9.5% during the 1st quarter. Private Advisor Group LLC now owns 34,725 shares of the company’s stock valued at $316,000 after buying an additional 3,000 shares in the last quarter. Allworth Financial LP purchased a new position in shares of Immix Biopharma in the fourth quarter worth $30,000. Velan Capital Investment Management LP boosted its stake in shares of Immix Biopharma by 40.0% in the third quarter. Velan Capital Investment Management LP now owns 35,000 shares of the company’s stock worth $73,000 after buying an additional 10,000 shares during the last quarter. Everhart Financial Group Inc. acquired a new stake in Immix Biopharma during the second quarter worth about $103,000. Finally, Mathes Company Inc. purchased a new position in Immix Biopharma during the fourth quarter valued at approximately $56,000. 11.26% of the stock is owned by institutional investors and hedge funds.

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.