Immix Biopharma (NASDAQ:IMMX) Stock Price Down 8.2% - Should You Sell?

Key Points

• Immix Biopharma shares fell 8.2% to about $11.78 in mid-day trading, with trading volume 73% below the average session level.
• Analyst sentiment remains broadly positive: eight analysts rate the stock Buy versus one Sell, producing a “Moderate Buy” consensus and an average price target of $22.86.
• The company reported a quarterly loss of $0.18 per share, missing estimates by $0.01, while institutional investors own 11.26% of the stock. Immix is developing NXC-201, a CAR-T therapy for relapsed or refractory AL amyloidosis and multiple myeloma.

Immix Biopharma, Inc. (NASDAQ:IMMX - Get Free Report) fell 8.2% during mid-day trading on Wednesday . The company traded as low as $11.75 and last traded at $11.78. Approximately 344,516 shares traded hands during trading, a decline of 73% from the average session volume of 1,283,040 shares. The stock had previously closed at $12.83.

Analysts Set New Price Targets

IMMX has been the topic of several recent analyst reports. Citigroup restated a "market outperform" rating on shares of Immix Biopharma in a research note on Friday, August 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of Immix Biopharma in a report on Friday, July 17th. Lifesci Capital assumed coverage on shares of Immix Biopharma in a research report on Wednesday, June 17th. They issued an "outperform" rating and a $19.00 price target on the stock. HC Wainwright upped their price objective on shares of Immix Biopharma from $20.00 to $25.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Finally, Needham & Company LLC started coverage on shares of Immix Biopharma in a report on Wednesday, July 22nd. They set a "buy" rating and a $21.00 price objective for the company. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.86.

Immix Biopharma Stock Down 7.6%

The stock has a fifty day moving average of $11.49 and a 200-day moving average of $10.17. The firm has a market capitalization of $848.46 million, a P/E ratio of -13.41 and a beta of 0.20.

Immix Biopharma (NASDAQ:IMMX - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.01). As a group, analysts forecast that Immix Biopharma, Inc. will post -0.73 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC boosted its holdings in Immix Biopharma by 9.5% in the first quarter. Private Advisor Group LLC now owns 34,725 shares of the company's stock valued at $316,000 after acquiring an additional 3,000 shares during the last quarter. Legal & General Group Plc bought a new stake in Immix Biopharma during the 2nd quarter worth about $41,000. Allworth Financial LP acquired a new position in Immix Biopharma during the 4th quarter valued at about $30,000. Compass Financial Management LLC bought a new position in shares of Immix Biopharma in the 2nd quarter valued at about $56,000. Finally, Everhart Financial Group Inc. bought a new position in shares of Immix Biopharma in the 2nd quarter valued at about $103,000. Institutional investors own 11.26% of the company's stock.

About Immix Biopharma

Immix Biopharma, Inc NASDAQ: IMMX is a clinical-stage biopharmaceutical company developing cell therapies for cancer and autoimmune diseases. The company focuses on treatments designed to target disease-associated cells and address serious conditions with limited therapeutic options.

Its lead product candidate is NXC-201, an autologous chimeric antigen receptor T-cell (CAR-T) therapy targeting B-cell maturation antigen (BCMA). NXC-201 is being investigated for relapsed or refractory AL amyloidosis and multiple myeloma, two diseases involving abnormal plasma cells.

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