Short Interest in Immix Biopharma, Inc. (NASDAQ:IMMX) Declines By 7.5%

Immix Biopharma, Inc. (NASDAQ:IMMX) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 578,200 shares, a drop of 7.5% from the July 15th total of 625,300 shares. Based on an average daily volume of 160,900 shares, the short-interest ratio is presently 3.6 days. Currently, 3.8% of the shares of the stock are sold short.

Immix Biopharma Stock Performance

NASDAQ IMMX opened at $2.17 on Wednesday. The stock’s fifty day moving average is $2.10 and its two-hundred day moving average is $2.47. The firm has a market capitalization of $57.32 million, a P/E ratio of -2.33 and a beta of 0.17. Immix Biopharma has a fifty-two week low of $1.75 and a fifty-two week high of $7.75.

Immix Biopharma (NASDAQ:IMMX) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.06. As a group, sell-side analysts forecast that Immix Biopharma will post -0.88 EPS for the current year.

Institutional Investors Weigh In On Immix Biopharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. OLD National Bancorp IN purchased a new stake in Immix Biopharma in the fourth quarter valued at $69,000. Tocqueville Asset Management L.P. raised its position in Immix Biopharma by 89.0% in the first quarter. Tocqueville Asset Management L.P. now owns 37,800 shares of the company’s stock valued at $116,000 after purchasing an additional 17,800 shares during the period. Jump Financial LLC purchased a new stake in Immix Biopharma in the fourth quarter valued at $128,000. Tritonpoint Wealth LLC purchased a new stake in Immix Biopharma in the first quarter valued at $75,000. Finally, Invst LLC purchased a new stake in Immix Biopharma in the second quarter valued at $57,000. Hedge funds and other institutional investors own 11.26% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Immix Biopharma in a research note on Monday.

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.