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

Key Points

• Short interest in Immix Biopharma surged 98.6% in June, reaching 7.88 million shares, or about 20.8% of the float. The short-interest ratio is 2.7 days based on average trading volume.
• Analysts remain mostly bullish on IMMX, with seven Buy ratings, one Hold, and one Sell. The stock’s average price target is $20.67, above its recent opening price of $10.53.
• The company is still posting losses, though its latest quarterly EPS of -$0.18 slightly beat expectations. Immix Biopharma is a clinical-stage biotech focused on immuno-oncology, with lead candidate IMX-110.

Immix Biopharma, Inc. (NASDAQ:IMMX - Get Free Report) was the target of a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 7,881,944 shares, an increase of 98.6% from the June 15th total of 3,968,428 shares. Based on an average daily trading volume, of 2,933,999 shares, the short-interest ratio is currently 2.7 days. Currently, 20.8% of the shares of the company are short sold.

Immix Biopharma Price Performance

Shares of IMMX opened at $10.53 on Thursday. Immix Biopharma has a 1 year low of $1.94 and a 1 year high of $12.14. The company has a 50 day simple moving average of $9.47 and a two-hundred day simple moving average of $8.36. The firm has a market cap of $572.95 million, a P/E ratio of -11.45 and a beta of 0.09.

Immix Biopharma (NASDAQ:IMMX - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.01. On average, sell-side analysts anticipate that Immix Biopharma will post -0.69 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 the company. LGT Fund Management Co Ltd. increased its position in Immix Biopharma by 233.3% in the first quarter. LGT Fund Management Co Ltd. now owns 416,594 shares of the company's stock worth $3,795,000 after purchasing an additional 291,594 shares during the last quarter. Eventide Asset Management LLC bought a new position in Immix Biopharma during the fourth quarter valued at $13,331,000. Blue Owl Capital Holdings LP purchased a new position in shares of Immix Biopharma in the 4th quarter worth $5,158,000. Bank of America Corp DE increased its holdings in shares of Immix Biopharma by 256,968.8% in the 1st quarter. Bank of America Corp DE now owns 41,131 shares of the company's stock worth $375,000 after buying an additional 41,115 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Immix Biopharma by 22.5% during the 1st quarter. Janus Henderson Group PLC now owns 4,802,002 shares of the company's stock valued at $43,698,000 after buying an additional 880,434 shares in the last quarter. 11.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Citigroup assumed coverage on Immix Biopharma in a research report on Thursday, June 18th. They set a "buy" rating on the stock. Bank of America assumed 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 for the company. HC Wainwright upped their target price on shares of Immix Biopharma from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, May 22nd. Mizuho increased their price target on Immix Biopharma from $14.00 to $15.00 and gave the stock an "outperform" rating in a research note on Monday, March 30th. Finally, Morgan Stanley assumed coverage on Immix Biopharma in a report on Wednesday, March 25th. They set an "overweight" rating and a $20.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $20.67.

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.

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