Immix Biopharma, Inc. (NASDAQ:IMMX) Short Interest Down 37.2% in August

Key Points

• Immix Biopharma (NASDAQ:IMMX) experienced a significant drop in short interest, declining by 37.2% in August, with 122,600 shares sold short as of August 15th.
• Institutional investors now own 11.26% of Immix Biopharma, with several firms, including Jane Street Group LLC and Velan Capital Investment Management, making new acquisitions.
• The company reported a quarterly loss of ($0.22) EPS, missing expectations, and currently has a price target of $7.00 from analysts while maintaining a consensus rating of "Moderate Buy."

Immix Biopharma, Inc. (NASDAQ:IMMX - Get Free Report) was the recipient of a significant decrease in short interest in the month of August. As of August 15th, there was short interest totaling 122,600 shares, a decrease of 37.2% from the July 31st total of 195,200 shares. Based on an average daily trading volume, of 257,700 shares, the short-interest ratio is presently 0.5 days. Approximately 0.7% of the company's stock are short sold. Approximately 0.7% of the company's stock are short sold. Based on an average daily trading volume, of 257,700 shares, the short-interest ratio is presently 0.5 days.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. HC Wainwright reiterated a "buy" rating and issued a $7.00 price objective on shares of Immix Biopharma in a research note on Wednesday, June 4th. Wall Street Zen cut Immix Biopharma from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Finally, Zacks Research cut Immix Biopharma from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Immix Biopharma currently has an average rating of "Moderate Buy" and a consensus target price of $7.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new position in Immix Biopharma in the fourth quarter valued at $39,000. Tritonpoint Wealth LLC acquired a new position in Immix Biopharma in the second quarter valued at $51,000. Finally, Velan Capital Investment Management LP acquired a new position in Immix Biopharma in the second quarter valued at $52,000. Institutional investors and hedge funds own 11.26% of the company's stock.

Immix Biopharma Trading Up 5.1%

Shares of NASDAQ IMMX traded up $0.11 on Tuesday, reaching $2.28. 182,518 shares of the company traded hands, compared to its average volume of 189,523. Immix Biopharma has a fifty-two week low of $1.26 and a fifty-two week high of $3.20. The company has a 50 day moving average of $2.49 and a 200 day moving average of $2.12. The stock has a market capitalization of $65.73 million, a PE ratio of -2.96 and a beta of 0.25.

Immix Biopharma (NASDAQ:IMMX - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The company reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.01). As a group, research analysts expect that Immix Biopharma will post -0.87 earnings per share for the current year.

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.