Immix Biopharma, Inc. (NASDAQ:IMMX) Sees Significant Increase in Short Interest
Immix Biopharma (NASDAQ:IMMX) experienced a significant increase in short interest in June, with a growth of 39.7% compared to the previous month. The company's shares are currently short sold at a rate of 3.1% and have a days-to-cover ratio of 3.6 days. The stock is trading at $2.12, with a 12-month high of $7.75 and a 12-month low of $1.55. Immix Biopharma is a clinical-stage biopharmaceutical company focused on developing tissue-specific therapeutics in oncology and inflammation.
Immix Biopharma, Inc. (NASDAQ:IMMX - Get Free Report) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 473,100 shares, an increase of 39.7% from the May 31st total of 338,700 shares. Based on an average daily trading volume, of 131,400 shares, the short-interest ratio is currently 3.6 days. Currently, 3.1% of the company's shares are short sold.
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Wall Street Analyst Weigh In
Separately, HC Wainwright initiated coverage on Immix Biopharma in a report on Monday. They issued a "buy" rating and a $7.00 price objective on the stock.
View Our Latest Analysis on Immix Biopharma
Immix Biopharma Trading Up 7.1 %
IMMX traded up $0.14 during trading hours on Monday, hitting $2.12. 109,687 shares of the company's stock were exchanged, compared to its average volume of 209,798. Immix Biopharma has a 12-month low of $1.55 and a 12-month high of $7.75. The firm has a market cap of $55.99 million, a P/E ratio of -2.28 and a beta of 0.17. The firm has a 50 day moving average of $2.16 and a 200 day moving average of $3.42.
Immix Biopharma (NASDAQ:IMMX - Get Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.01. As a group, research analysts expect that Immix Biopharma will post -0.93 EPS for the current fiscal year.
Institutional Investors Weigh In On Immix Biopharma
A number of hedge funds have recently bought and sold shares of the stock. Tocqueville Asset Management L.P. raised its holdings 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 acquiring an additional 17,800 shares in the last quarter. Tritonpoint Wealth LLC acquired a new stake in shares of Immix Biopharma in the 1st quarter valued at $75,000. Jump Financial LLC purchased a new stake in shares of Immix Biopharma during the 4th quarter worth $128,000. Private Advisor Group LLC acquired a new position in shares of Immix Biopharma during the fourth quarter worth $690,000. Finally, OLD National Bancorp IN purchased a new position in Immix Biopharma in the fourth quarter valued at $69,000. Institutional investors and hedge funds own 11.26% of the company's stock.
Immix Biopharma Company Profile
(Get Free Report)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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