Immix Biopharma (NASDAQ:IMMX) Shares Down 8.9% – What’s Next?

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

Analyst Upgrades and Downgrades

IMMX has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immix Biopharma in a report on Thursday, January 22nd. Mizuho assumed coverage on Immix Biopharma in a research note on Monday, February 9th. They issued an “outperform” rating and a $14.00 price objective on the stock. Citizens Jmp initiated coverage on Immix Biopharma in a report on Monday, March 9th. They issued an “outperform” rating and a $23.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Immix Biopharma from a “hold” rating to a “sell” rating in a research report on Sunday, March 15th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $15.00.

Immix Biopharma Stock Up 2.3%

The stock’s 50-day simple moving average is $7.29 and its 200 day simple moving average is $4.97. The firm has a market cap of $512.65 million, a P/E ratio of -12.57 and a beta of 0.25.

Institutional Investors Weigh In On Immix Biopharma

Large investors have recently added to or reduced their stakes in the business. Allworth Financial LP bought a new stake in Immix Biopharma in the fourth quarter worth approximately $30,000. Mathes Company Inc. bought a new position in shares of Immix Biopharma during the 4th quarter worth approximately $56,000. Balyasny Asset Management L.P. acquired a new stake in shares of Immix Biopharma during the 4th quarter worth approximately $67,000. Kera Capital Partners Inc. bought a new stake in shares of Immix Biopharma in the 4th quarter valued at $68,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Immix Biopharma in the 4th quarter valued at $112,000. Institutional investors and hedge funds 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.