Short Interest in Immix Biopharma, Inc. (NASDAQ:IMMX) Drops By 13.4%

Immix Biopharma, Inc. (NASDAQ:IMMX) was the target of a large drop in short interest in February. As of February 27th, there was short interest totaling 2,970,886 shares, a drop of 13.4% from the February 12th total of 3,431,739 shares. Based on an average daily volume of 580,096 shares, the days-to-cover ratio is currently 5.1 days. Approximately 12.6% of the company’s stock are sold short. Approximately 12.6% of the company’s stock are sold short. Based on an average daily volume of 580,096 shares, the days-to-cover ratio is currently 5.1 days.

Immix Biopharma Stock Up 6.6%

IMMX traded up $0.71 during trading on Tuesday, hitting $11.48. 693,587 shares of the company traded hands, compared to its average volume of 856,053. The stock’s fifty day moving average is $6.99 and its 200 day moving average is $4.84. Immix Biopharma has a one year low of $1.34 and a one year high of $11.61. The firm has a market cap of $607.98 million, a P/E ratio of -14.91 and a beta of 0.25.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IMMX. Wall Street Zen downgraded Immix Biopharma from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Immix Biopharma in a report on Thursday, January 22nd. Mizuho began coverage on Immix Biopharma in a report on Monday, February 9th. They issued an “outperform” rating and a $14.00 price target for the company. Finally, Citizens Jmp started coverage on shares of Immix Biopharma in a research report on Monday, March 9th. They set an “outperform” rating and a $23.00 price target for the company. Three investment 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’s stock. According to MarketBeat.com, Immix Biopharma has a consensus rating of “Hold” and an average price target of $15.00.

Hedge Funds Weigh In On Immix Biopharma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IMMX. Allworth Financial LP purchased a new stake in shares of Immix Biopharma during the 4th quarter valued at $30,000. Mathes Company Inc. purchased a new stake in shares of Immix Biopharma in the 4th quarter worth about $56,000. Balyasny Asset Management L.P. bought a new position in shares of Immix Biopharma during the fourth quarter valued at approximately $67,000. Kera Capital Partners Inc. bought a new stake in Immix Biopharma in the fourth quarter worth $68,000. Finally, Squarepoint Ops LLC purchased a new position in Immix Biopharma in the fourth quarter worth about $112,000. 11.26% of the stock is currently owned by hedge funds and other institutional investors.

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.