Immix Biopharma, Inc. (NASDAQ:IMMX) Short Interest Update

Key Points

• Immix Biopharma experienced a significant increase in short interest, growing by 201.0% in August, with a total of 369,000 shares shorted as of August 31.
• The company reported an earnings loss of ($0.22) EPS for the last quarter, missing the consensus estimate by ($0.01).
• Wall Street analysts have issued mixed ratings, with Zacks Research downgrading the stock to a "hold," while HC Wainwright increased the price target from $7.00 to $8.00 and maintained a "buy" rating.

Immix Biopharma, Inc. (NASDAQ:IMMX - Get Free Report) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 369,000 shares, a growth of 201.0% from the August 15th total of 122,600 shares. Based on an average trading volume of 200,900 shares, the days-to-cover ratio is currently 1.8 days. Currently, 2.2% of the company's shares are sold short. Currently, 2.2% of the company's shares are sold short. Based on an average trading volume of 200,900 shares, the days-to-cover ratio is currently 1.8 days.

Immix Biopharma Price Performance

Shares of NASDAQ IMMX traded down $0.08 during midday trading on Friday, hitting $2.15. 110,765 shares of the company's stock were exchanged, compared to its average volume of 166,630. The company has a market cap of $61.84 million, a PE ratio of -2.79 and a beta of 0.25. Immix Biopharma has a twelve month low of $1.26 and a twelve month high of $3.20. The firm's fifty day simple moving average is $2.48 and its 200-day simple moving average is $2.12.

Immix Biopharma (NASDAQ:IMMX - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.01). Equities analysts anticipate that Immix Biopharma will post -0.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IMMX has been the subject of a number of research analyst reports. Zacks Research cut Immix Biopharma from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Wall Street Zen lowered Immix Biopharma from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. Finally, HC Wainwright increased their price target on Immix Biopharma from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Friday. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Immix Biopharma has an average rating of "Moderate Buy" and a consensus price target of $8.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new position in shares of Immix Biopharma in the 4th quarter valued at approximately $39,000. Velan Capital Investment Management LP purchased a new stake in shares of Immix Biopharma in the second quarter valued at approximately $52,000. Finally, Tritonpoint Wealth LLC purchased a new stake in shares of Immix Biopharma in the second quarter valued at approximately $51,000. Institutional investors and hedge funds 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.

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