Immix Biopharma, Inc. (NASDAQ:IMMX) Short Interest Up 98.6% in June

Immix Biopharma, Inc. (NASDAQ:IMMX) was the target of a large growth in short interest in June. As of June 30th, there was short interest totaling 7,881,944 shares, a growth of 98.6% from the June 15th total of 3,968,428 shares. Based on an average trading volume of 2,933,999 shares, the short-interest ratio is presently 2.7 days. Approximately 20.8% of the shares of the company are short sold.

Analyst Ratings Changes

IMMX has been the subject of a number of recent analyst reports. HC Wainwright upped their target price on Immix Biopharma from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Citigroup began coverage on shares of Immix Biopharma in a report on Thursday, June 18th. They set a “buy” rating for the company. Mizuho raised their target price on shares of Immix Biopharma from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Bank of America assumed coverage on shares of Immix Biopharma in a report on Thursday, June 18th. They issued a “buy” rating and a $27.00 target price on the stock. Finally, Morgan Stanley started coverage on shares of Immix Biopharma in a research report on Wednesday, March 25th. They set an “overweight” rating and a $20.00 target price for the company. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Immix Biopharma has a consensus rating of “Moderate Buy” and an average target price of $20.67.

Institutional Trading of Immix Biopharma

Hedge funds have recently bought and sold shares of the stock. Allworth Financial LP bought a new position in shares of Immix Biopharma during the 4th quarter worth about $30,000. Mathes Company Inc. acquired a new position in shares of Immix Biopharma during the fourth quarter valued at about $56,000. Balyasny Asset Management L.P. bought a new stake in shares of Immix Biopharma in the fourth quarter valued at about $67,000. Kera Capital Partners Inc. bought a new stake in shares of Immix Biopharma in the fourth quarter valued at about $68,000. Finally, Velan Capital Investment Management LP grew its position in Immix Biopharma by 40.0% during the third quarter. Velan Capital Investment Management LP now owns 35,000 shares of the company’s stock worth $73,000 after buying an additional 10,000 shares in the last quarter. 11.26% of the stock is owned by institutional investors.

Immix Biopharma Stock Up 1.9%

IMMX opened at $10.25 on Friday. The stock’s 50 day moving average price is $9.49 and its two-hundred day moving average price is $8.41. The firm has a market capitalization of $557.70 million, a P/E ratio of -11.14 and a beta of 0.09. Immix Biopharma has a 12-month low of $1.94 and a 12-month high of $12.14.

Immix Biopharma (NASDAQ:IMMX) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.01. As a group, analysts anticipate that Immix Biopharma will post -0.69 earnings per share for the current year.

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.