Immix Biopharma (NASDAQ:IMMX) Stock Price Down 6.7% – Here’s What Happened

Immix Biopharma, Inc. (NASDAQ:IMMX)’s share price dropped 6.7% on Friday . The stock traded as low as $9.58 and last traded at $9.3870. Approximately 309,111 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 1,229,322 shares. The stock had previously closed at $10.06.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Needham & Company LLC started coverage on Immix Biopharma in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $21.00 price target for the company. Lifesci Capital began coverage on Immix Biopharma in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $19.00 price objective for the company. Citigroup initiated coverage on Immix Biopharma in a research report on Thursday, June 18th. They set a “buy” rating for the company. HC Wainwright lifted their target price on Immix Biopharma from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Immix Biopharma in a research note on Friday, July 17th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.71.

Immix Biopharma Price Performance

The stock’s 50-day moving average is $9.37 and its two-hundred day moving average is $8.82. The stock has a market cap of $510.37 million, a P/E ratio of -10.22 and a beta of 0.11.

Immix Biopharma (NASDAQ:IMMX) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.01. On average, analysts anticipate that Immix Biopharma, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC lifted its position in shares of Immix Biopharma by 22.5% in the first quarter. Janus Henderson Group PLC now owns 4,802,002 shares of the company’s stock worth $43,698,000 after buying an additional 880,434 shares in the last quarter. Eventide Asset Management LLC bought a new position in Immix Biopharma during the fourth quarter valued at approximately $13,331,000. Marshall Wace LLP grew its holdings in Immix Biopharma by 3,495.4% during the 4th quarter. Marshall Wace LLP now owns 1,978,743 shares of the company’s stock valued at $10,349,000 after buying an additional 1,923,708 shares in the last quarter. Millennium Management LLC bought a new stake in Immix Biopharma in the 4th quarter worth approximately $8,681,000. Finally, Adage Capital Partners GP L.L.C. bought a new stake in Immix Biopharma in the fourth quarter worth $7,845,000. Institutional investors own 11.26% of the company’s stock.

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.