Immix Biopharma, Inc. (NASDAQ:IMMX) Short Interest Update

Immix Biopharma, Inc. (NASDAQ:IMMX) saw a large increase in short interest in 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. Based on an average daily trading volume, of 2,933,999 shares, the days-to-cover ratio is currently 2.7 days. Currently, 20.8% of the company’s shares are short sold.

Immix Biopharma Stock Up 1.9%

NASDAQ IMMX traded up $0.19 during trading on Friday, reaching $10.25. 1,058,309 shares of the stock traded hands, compared to its average volume of 1,176,719. Immix Biopharma has a fifty-two week low of $1.94 and a fifty-two week high of $12.14. The firm has a market cap of $557.70 million, a price-to-earnings ratio of -11.14 and a beta of 0.09. The stock’s 50-day moving average price is $9.48 and its 200 day moving average price is $8.39.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IMMX. Janus Henderson Group PLC acquired a new stake in shares of Immix Biopharma during the fourth quarter worth about $20,471,000. Eventide Asset Management LLC acquired a new position in shares of Immix Biopharma in the 4th quarter valued at approximately $13,331,000. Marshall Wace LLP grew its position in shares of Immix Biopharma by 3,495.4% in the 4th 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 bought a new stake in Immix Biopharma during the 4th quarter worth approximately $8,681,000. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in Immix Biopharma during the 4th quarter worth approximately $7,845,000. 11.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on IMMX shares. Citizens Jmp restated a “market outperform” rating and issued a $23.00 price objective on shares of Immix Biopharma in a report on Friday, March 27th. Mizuho upped their target price on shares of Immix Biopharma from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Monday, March 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immix Biopharma in a research report on Tuesday, April 21st. Lifesci Capital initiated coverage on Immix Biopharma in a research note on Wednesday, June 17th. They issued an “outperform” rating and a $19.00 price target on the stock. Finally, Bank of America started coverage on Immix Biopharma in a research report on Thursday, June 18th. They issued a “buy” rating and a $27.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.67.

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.