Immix Biopharma (NASDAQ:IMMX) Shares Down 6.2% – What’s Next?

Immix Biopharma, Inc. (NASDAQ:IMMX)’s share price dropped 6.2% on Tuesday. The stock traded as low as $8.76 and last traded at $8.68. 457,805 shares changed hands during trading, a decline of 65% from the average session volume of 1,320,802 shares. The stock had previously closed at $9.25.

Analyst Upgrades and Downgrades

IMMX has been the subject of several research analyst reports. HC Wainwright boosted their price objective on Immix Biopharma from $20.00 to $25.00 and gave the company a “buy” rating in a report on Monday, August 10th. Needham & Company LLC raised their target price on Immix Biopharma from $21.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, September 29th. Morgan Stanley cut their target price on Immix Biopharma from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Bank of America began coverage on shares of Immix Biopharma in a research note on Thursday, June 18th. They issued a “buy” rating and a $27.00 price objective on the stock. Finally, Mizuho lifted their price target on Immix Biopharma from $15.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 15th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.14.

Immix Biopharma Price Performance

The stock has a market capitalization of $630.26 million, a P/E ratio of -10.05 and a beta of 0.24. The firm has a 50 day moving average of $11.84 and a 200-day moving average of $10.23.

Immix Biopharma (NASDAQ:IMMX) last posted its earnings results on Friday, August 7th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.01). As a group, equities analysts expect that Immix Biopharma, Inc. will post -0.74 earnings per share for the current year.

Institutional Investors Weigh In On Immix Biopharma

Several large investors have recently made changes to their positions in IMMX. Jupiter Topco LLC acquired a new position in Immix Biopharma during the second quarter worth $100,816,000. Janus Henderson Group PLC lifted its position in Immix Biopharma by 22.5% during the first quarter. Janus Henderson Group PLC now owns 4,802,002 shares of the company’s stock worth $43,698,000 after acquiring an additional 880,434 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Immix Biopharma during the second quarter worth $30,827,000. Opaleye Management Inc. bought a new stake in Immix Biopharma in the 2nd quarter valued at about $24,177,000. Finally, Wellington Management Group LLP bought a new stake in shares of Immix Biopharma during the 2nd quarter valued at $15,191,000. Institutional investors own 11.26% of the company’s stock.

About Immix Biopharma

Immix Biopharma, Inc is a clinical-stage biopharmaceutical company focused on developing cell therapies for cancer and autoimmune diseases. The company’s research centers on treatments designed to use a patient’s immune system to identify and attack disease-related cells.

Its lead product candidate is NXC-201, an investigational autologous CAR T-cell therapy targeting B-cell maturation antigen (BCMA), a protein found on malignant plasma cells. NXC-201 is being evaluated in clinical studies involving patients with relapsed or refractory AL amyloidosis and multiple myeloma, including the company’s NEXICART-1 study.

Immix Biopharma was founded in 2012 and is based in Los Angeles, California.