Immix Biopharma (NASDAQ:IMMX) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Immix Biopharma (NASDAQ:IMMX) from a strong-buy rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

Other analysts also recently issued reports about the company. Wall Street Zen upgraded Immix Biopharma to a “hold” rating in a research report on Friday, June 27th. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Immix Biopharma in a research report on Wednesday, June 4th. One equities 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.com, Immix Biopharma has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

Immix Biopharma Stock Performance

NASDAQ:IMMX opened at $1.96 on Monday. The stock has a fifty day moving average price of $2.49 and a 200-day moving average price of $2.10. The company has a market cap of $56.51 million, a price-to-earnings ratio of -2.55 and a beta of 0.28. Immix Biopharma has a fifty-two week low of $1.26 and a fifty-two week high of $3.20.

Immix Biopharma (NASDAQ:IMMX) last released its earnings results on Friday, August 8th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01). Research analysts predict that Immix Biopharma will post -0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Immix Biopharma

Several large investors have recently bought and sold shares of IMMX. Velan Capital Investment Management LP bought a new position in Immix Biopharma in the second quarter valued at about $52,000. Tritonpoint Wealth LLC bought a new position in Immix Biopharma in the second quarter valued at about $51,000. Finally, Jane Street Group LLC bought a new position in Immix Biopharma in the fourth quarter valued at about $39,000. 11.26% of the stock is currently owned by institutional investors.

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.