Immix Biopharma (NASDAQ:IMMX) Shares Down 6.7% After Earnings Miss

Shares of Immix Biopharma, Inc. (NASDAQ:IMMX) were down 6.7% during mid-day trading on Friday following a dissappointing earnings announcement. The company traded as low as $9.58 and last traded at $9.3870. Approximately 309,111 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 1,229,322 shares. The stock had previously closed at $10.06.

The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01).

Analysts Set New Price Targets

A number of equities research analysts have issued reports on IMMX shares. Lifesci Capital assumed coverage on shares of Immix Biopharma in a research note on Wednesday, June 17th. They set an “outperform” rating and a $19.00 target price for the company. Bank of America assumed coverage on Immix Biopharma in a report on Thursday, June 18th. They set a “buy” rating and a $27.00 price objective for the company. Citigroup began coverage on Immix Biopharma in a research report on Thursday, June 18th. They set a “buy” rating for the company. HC Wainwright boosted 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 reaffirmed a “sell (d-)” rating on shares of Immix Biopharma in a research report on Friday, July 17th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.71.

Institutional Investors Weigh In On Immix Biopharma

A number of large investors have recently added to or reduced their stakes in IMMX. Allworth Financial LP acquired a new position in Immix Biopharma during the fourth quarter valued at approximately $30,000. Mathes Company Inc. bought a new stake in shares of Immix Biopharma during the 4th quarter worth $56,000. Balyasny Asset Management L.P. acquired a new position in Immix Biopharma in the 4th quarter valued at $67,000. Kera Capital Partners Inc. bought a new position in Immix Biopharma in the 4th quarter worth $68,000. Finally, Velan Capital Investment Management LP raised its holdings in Immix Biopharma by 40.0% in the 3rd quarter. Velan Capital Investment Management LP now owns 35,000 shares of the company’s stock worth $73,000 after acquiring an additional 10,000 shares during the period. Institutional investors own 11.26% of the company’s stock.

Immix Biopharma Stock Performance

The stock’s 50-day simple moving average is $9.38 and its two-hundred day simple moving average is $8.82. The stock has a market cap of $528.87 million, a price-to-earnings ratio of -11.05 and a beta of 0.11.

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.