Immix Biopharma (NASDAQ:IMMX) Stock Rating Lowered by Wall Street Zen

Key Points

• Immix Biopharma (NASDAQ:IMMX) was downgraded from a "hold" to a "sell" rating by Wall Street Zen, with other analysts having mixed opinions on the stock.
• The company reported a quarterly loss of ($0.22) EPS, slightly missing the consensus estimate, and has a current price target consensus of $7.00.
• Shares of Immix Biopharma have seen a 3.1% decline recently, with trading starting at $2.22, while institutional ownership stands at 11.26%.

Wall Street Zen lowered shares of Immix Biopharma (NASDAQ:IMMX - Free Report) from a hold rating to a sell rating in a report released on Saturday morning.

Several other analysts also recently weighed in on the company. HC Wainwright reiterated a "buy" rating and set a $7.00 price target on shares of Immix Biopharma in a research note on Wednesday, June 4th. Zacks Research lowered Immix Biopharma from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 25th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $7.00.

Immix Biopharma Stock Performance

IMMX stock traded down $0.03 during trading on Friday, reaching $2.19. The company had a trading volume of 79,893 shares, compared to its average volume of 202,438. The company has a market cap of $63.14 million, a price-to-earnings ratio of -2.84 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 has a 50-day simple moving average of $2.49 and a 200-day simple moving average of $2.11.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Velan Capital Investment Management LP acquired a new position in Immix Biopharma in the second quarter valued at approximately $52,000. Tritonpoint Wealth LLC acquired a new position in shares of Immix Biopharma in the 2nd quarter valued at $51,000. Finally, Jane Street Group LLC purchased a new stake in Immix Biopharma during the fourth quarter worth $39,000. 11.26% of the stock is currently owned by hedge funds and other institutional investors.

Immix Biopharma Company Profile

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.