Immix Biopharma (NASDAQ:IMMX) Shares Down 5.4% – Time to Sell?

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on IMMX shares. HC Wainwright boosted their target price on shares of Immix Biopharma from $20.00 to $25.00 and gave the company a “buy” rating in a report on Monday, August 10th. Bank of America began coverage on Immix Biopharma in a research report on Thursday, June 18th. They issued a “buy” rating and a $27.00 price objective for the company. Citigroup restated a “market outperform” rating on shares of Immix Biopharma in a research report on Friday, August 14th. Morgan Stanley decreased their target price on Immix Biopharma from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, August 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Immix Biopharma in a report on Friday, July 17th. Eight analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.29.

Immix Biopharma Stock Down 7.1%

The firm’s 50 day simple moving average is $11.21 and its two-hundred day simple moving average is $9.92. The stock has a market capitalization of $880.66 million, a P/E ratio of -13.99 and a beta of 0.20.

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

Hedge Funds Weigh In On Immix Biopharma

A number of institutional investors have recently modified their holdings of the company. Blue Owl Capital Holdings LP bought a new stake in Immix Biopharma during the 2nd quarter valued at $4,511,000. LGT Fund Management Co Ltd. lifted its stake in shares of Immix Biopharma by 233.3% in the first quarter. LGT Fund Management Co Ltd. now owns 416,594 shares of the company’s stock valued at $3,795,000 after buying an additional 291,594 shares in the last quarter. Tocqueville Asset Management L.P. acquired a new position in shares of Immix Biopharma during the second quarter valued at about $913,000. Janus Henderson Group PLC increased its position in shares of Immix Biopharma by 22.5% during the first quarter. Janus Henderson Group PLC now owns 4,802,002 shares of the company’s stock worth $43,698,000 after acquiring an additional 880,434 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of Immix Biopharma during the second quarter worth about $15,191,000. 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.