Immix Biopharma (NASDAQ:IMMX) Trading 7.1% Higher – Still a Buy?

Immix Biopharma, Inc. (NASDAQ:IMMX) shot up 7.1% during mid-day trading on Tuesday . The stock traded as high as $10.67 and last traded at $10.8450. Approximately 821,072 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 1,238,697 shares. The stock had previously closed at $10.13.

Wall Street Analysts Forecast Growth

IMMX has been the topic of a number of recent research reports. Citigroup assumed coverage on shares of Immix Biopharma in a research note on Thursday, June 18th. They issued a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Immix Biopharma in a research report on Friday, July 17th. Bank of America began coverage on shares of Immix Biopharma in a research report on Thursday, June 18th. They set a “buy” rating and a $27.00 price target for the company. Morgan Stanley decreased their price objective on shares of Immix Biopharma from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Needham & Company LLC started coverage on Immix Biopharma in a research report on Wednesday, July 22nd. They set a “buy” rating and a $21.00 price target for the company. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.29.

Immix Biopharma Stock Up 10.8%

The stock has a market cap of $610.81 million, a price-to-earnings ratio of -12.87 and a beta of 0.11. The stock has a fifty day moving average of $9.40 and a two-hundred day moving average of $8.89.

Immix Biopharma (NASDAQ:IMMX) last posted its earnings results on Friday, August 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). Equities research analysts anticipate that Immix Biopharma, Inc. will post -0.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IMMX. Janus Henderson Group PLC purchased a new position in Immix Biopharma in the fourth quarter valued at about $20,471,000. BlackRock Inc. acquired a new position in shares of Immix Biopharma in the 2nd quarter valued at approximately $30,827,000. Eventide Asset Management LLC purchased a new position in shares of Immix Biopharma during the 4th quarter valued at approximately $13,331,000. Marshall Wace LLP boosted its stake in shares of Immix Biopharma by 3,495.4% during the 4th quarter. Marshall Wace LLP now owns 1,978,743 shares of the company’s stock valued at $10,349,000 after buying an additional 1,923,708 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Immix Biopharma during the fourth quarter worth approximately $8,681,000. 11.26% of the stock is currently owned by hedge funds and other institutional investors.

About Immix Biopharma

Immix Biopharma (NASDAQ:IMMX) is a clinical-stage biopharmaceutical company focused on the discovery and development of novel immuno-oncology therapies that target myeloid checkpoints. The company’s approach centers on harnessing the innate immune system to promote anti-tumor activity, complementing established T-cell checkpoint inhibitors. By modulating key myeloid pathways, Immix Biopharma aims to overcome resistance mechanisms in solid tumors and broaden the scope of effective cancer immunotherapy.

The company’s lead candidate, IMX-110, is a first-in-class combination therapy designed to activate macrophages and dendritic cells within the tumor microenvironment.