Immix Biopharma, Inc. (NASDAQ:IMMX) Sees Large Drop in Short Interest

Immix Biopharma, Inc. (NASDAQ:IMMX - Get Free Report) was the recipient of a significant drop in short interest in April. As of April 15th, there was short interest totalling 191,300 shares, a drop of 44.8% from the March 31st total of 346,800 shares. Based on an average daily volume of 59,500 shares, the short-interest ratio is currently 3.2 days. Approximately 1.2% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a "buy" rating and set a $7.00 price target on shares of Immix Biopharma in a research note on Monday, February 10th.

Immix Biopharma Price Performance

Shares of NASDAQ:IMMX traded up $0.06 during trading on Friday, hitting $2.10. 59,636 shares of the company were exchanged, compared to its average volume of 125,481. The company has a market cap of $58.22 million, a PE ratio of -2.47 and a beta of 0.30. Immix Biopharma has a 52-week low of $1.26 and a 52-week high of $2.71. The stock has a 50 day moving average of $1.70 and a 200 day moving average of $1.87.

Immix Biopharma (NASDAQ:IMMX - Get Free Report) last issued its earnings results on Monday, March 24th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.09. Sell-side analysts forecast that Immix Biopharma will post -0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Immix Biopharma

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in Immix Biopharma by 5.6% in the 3rd quarter. Geode Capital Management LLC now owns 150,082 shares of the company's stock worth $224,000 after purchasing an additional 7,954 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Immix Biopharma in the fourth quarter worth $38,000. Jane Street Group LLC purchased a new stake in shares of Immix Biopharma in the fourth quarter worth $39,000. Finally, FNY Investment Advisers LLC bought a new stake in Immix Biopharma during the fourth quarter valued at $63,000. Hedge funds and other institutional investors own 11.26% of the company's stock.

About Immix Biopharma

Immix Biopharma, Inc, a clinical-stage biopharmaceutical company, engages in developing tissue-specific therapeutics in oncology and inflammation in the United States and Australia. The company is developing IMX-110 that is in Phase 1b/2a clinical trials for the treatment of soft tissue sarcoma and solid tumors; IMX-111, a tissue-specific biologic for the treatment of colorectal cancers; and IMX-120, a tissue-specific biologic for the treatment of ulcerative colitis and severe Crohn's disease.