Immix Biopharma (NASDAQ:IMMX) Shares Down 8.9% – Should You Sell?

Immix Biopharma, Inc. (NASDAQ:IMMX) shares traded down 8.9% during mid-day trading on Wednesday . The company traded as low as $10.11 and last traded at $10.1250. 258,229 shares traded hands during trading, a decline of 70% from the average session volume of 847,102 shares. The stock had previously closed at $11.12.

Analysts Set New Price Targets

A number of research analysts have commented on IMMX shares. Mizuho began coverage on shares of Immix Biopharma in a research report on Monday, February 9th. They set an “outperform” rating and a $14.00 target price on the stock. Wall Street Zen cut Immix Biopharma from a “hold” rating to a “sell” rating in a research report on Sunday. Citizens Jmp initiated coverage on Immix Biopharma in a research note on Monday, March 9th. They set an “outperform” rating and a $23.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Immix Biopharma in a research note on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Immix Biopharma currently has a consensus rating of “Hold” and a consensus target price of $15.00.

Immix Biopharma Stock Down 9.9%

The company has a market capitalization of $530.87 million, a PE ratio of -13.02 and a beta of 0.25. The business has a 50 day simple moving average of $7.11 and a 200 day simple moving average of $4.91.

Institutional Investors Weigh In On Immix Biopharma

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC acquired a new position in shares of Immix Biopharma in the 4th quarter valued at $20,471,000. Eventide Asset Management LLC purchased a new stake in Immix Biopharma during the 4th quarter valued at about $13,331,000. Marshall Wace LLP increased its holdings in shares of Immix Biopharma by 3,495.4% in the fourth quarter. Marshall Wace LLP now owns 1,978,743 shares of the company’s stock valued at $10,349,000 after purchasing an additional 1,923,708 shares during the period. Millennium Management LLC purchased a new position in shares of Immix Biopharma in the fourth quarter worth about $8,681,000. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of Immix Biopharma in the fourth quarter worth about $7,845,000. 11.26% of the stock is currently 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.