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

Immix Biopharma, Inc. (NASDAQ:IMMX) was down 8.9% during trading on Wednesday . The company traded as low as $10.11 and last traded at $10.1250. Approximately 258,229 shares changed 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.

Analysts Set New Price Targets

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

Immix Biopharma Price Performance

The stock has a market capitalization of $530.87 million, a PE ratio of -13.02 and a beta of 0.25. The stock’s fifty day moving average is $7.11 and its 200-day moving average is $4.91.

Hedge Funds Weigh In On Immix Biopharma

A number of hedge funds have recently made changes to their positions in IMMX. Janus Henderson Group PLC purchased a new position in Immix Biopharma in the 4th quarter valued at $20,471,000. Eventide Asset Management LLC acquired a new stake in shares of Immix Biopharma in the fourth quarter valued at about $13,331,000. Marshall Wace LLP lifted its stake in shares of Immix Biopharma by 3,495.4% in the fourth quarter. Marshall Wace LLP now owns 1,978,743 shares of the company’s stock worth $10,349,000 after buying an additional 1,923,708 shares in the last quarter. Millennium Management LLC acquired a new position in Immix Biopharma during the fourth quarter worth about $8,681,000. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in Immix Biopharma during the 4th quarter valued at about $7,845,000. 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.